Must a depository financial institution (DFI) provisionally re-credit a consumer's account even if written confirmation is required following an oral notice of an error and the customer fails to provide it?

A depository financial institution (DFI) is not required to provisionally re-credit a consumer's account if the customer fails to provide written confirmation after giving an oral notice of an error. The requirement for written confirmation after an oral notification is in place to establish a formal record of the dispute and the error claimed by the consumer. When a consumer reports an error orally, the DFI must take reasonable steps to investigate the claim, but the process involves a requirement for the consumer to follow up in writing. If this written confirmation is not received, the DFI does not have the obligation to provisionally re-credit the account.

This aligns with the regulations set forth in the Electronic Fund Transfer Act (EFTA) and the associated regulations under Regulation E, which delineate the requirements for error resolution in electronic transfers. If a consumer does not provide the necessary written confirmation, the DFI is not bound to provisionally re-credit the account, as it lacks the documented evidence to support the claim of error.

The context of the other choices includes misunderstandings of the regulations regarding the required procedures for error notifications and the conditions under which provisional re-credits must occur. A clear understanding of the regulatory framework is vital for accurate interpretation and application in these scenarios.