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Finance Charge Double Rebated (Doc ID 2734319.1)

Last updated on DECEMBER 07, 2020

Applies to:

Oracle Financial Services Lending and Leasing - Version 14.4.0.0.0 and later
Information in this document applies to any platform.

Symptoms

ACTUAL BEHAVIOR
---------------
Finance Charge Double Rebated

On a precomputed account when the full amount of the finance charge is already rebated and then the non auto rebate insurance product is cancelled a finance charge rebate amount is returned and posted on the account when it should not be as the full amount was already rebated. 


EXPECTED BEHAVIOR
-----------------------
System should not rebate the VSC once the pay-off is posted earlier on the account

STEPS
-----------------------
The issue can be reproduced at will with the following steps:
1. Select an active account
2. Post a payoff payment
3. Verify the balances
4. Cancel the VSC insurance
5. Verify system should cancel the VSC.
6. Verify the rebate transactions, system should not rebate the insurance again

BUSINESS IMPACT
-----------------------
The issue has the following business impact:
Due to this issue, system rebating the insurance double causing incorrect balances

Changes

 

Cause

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In this Document
Symptoms
Changes
Cause
Solution


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