Customer dispute resolution.

CFR · 2024-01-01 · US · Title 12

(a) No banking institution shall enter into any agreement or understanding with a retail forex customer in which the customer agrees, prior to the time a claim or grievance arises, to submit any claim or grievance regarding any retail forex transaction or disclosure to any settlement procedure. (b) (2) The customer must, within 45 days after receipt of such list, notify the banking institution of the person selected. The customer's failure to provide such notice shall give the banking institution the right to select a person from the list. (c) (d) (e) (1) Arises out of the transaction or occurrence that is the subject of the retail forex customer's claim or grievance; and (2) Does not require for adjudication the presence of essential witnesses, parties, or third persons over which the settlement process lacks jurisdiction. (f)

official document · source cfr-2024 · id 12:§ 240.16