Twenty days after receiving her bank statement,Gwen telephoned Great State Bank to notify it that there was an error.The bank must investigate and report the results of the investigation to Gwen within 10 business days.If the bank cannot complete the investigation within the 10 days,it must provisionally recredit Gwen's account and complete the investigation within 45 calendar days.

Question

Quizplus · Accepted Answer

This statement accurately reflects the regulations outlined in the Electronic Fund Transfer Act (EFTA) regarding error resolution procedures for consumers. The bank has a maximum of 10 business days to complete the investigation and report back to the consumer, but if it cannot do so, it must provisionally recredit the account and complete the investigation within 45 calendar days.

Twenty Days After Receiving Her Bank Statement,Gwen Telephoned Great State