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• Customer service procedures. Since the clock begins at first contact, customer service representatives must gather sufficient information during the initial phone conversation to be able to start the investigation.
• Investigation procedures.
Your procedures must docu- ment how to handle the types of investigations you’ll be called on to make—like, what if the
alleged error appears to in- volve cardholder fraud?
• Incoming mail. Mail must be opened and marked “received” on the date it was actually received. And, the date received (not the postmark date) is the proper one to use.
• outgoing communications. Outgoing mail, including required consumer notices, must be accurate and timely.
5 doCumentatIon matteRs
Anyone who’s been through a financial regulator audit, particu- larly lately, understands that documentation (and the ability
to retrieve it) matters. Documenta- tion can make the difference be- tween a critical regulatory review and a positive one. Pertaining to prepaid, there are three key areas of documentation that support error resolution:
volume 7 • fall 2014
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