Regulatory Alerts2025-11-30
Added
Providing a professional human telephone response
This Directive updates Proper Conduct of Banking Business Directive No. 426, requiring banking corporations to provide a professional human telephone response service for customers reporting suspected fraud in payment services or unauthorized use. This service must be available continuously, 24 hours a day, seven days a week. As a general rule, the waiting time for assistance from a human representative shall not exceed six minutes, with no more than 15 percent of calls exceeding this threshold, and an average waiting time of no more than eight minutes for those calls. Banking corporations must implement these amendments by May 31, 2026.