Regulation E Policy
The purpose of this Regulation E Policy Template is to address how a bank, credit union, fintech company, or other type of financial institution adheres to Regulation E – “Electronic Fund Transfer Act” (EFTA). In general, Regulation E carries out the purposes of the EFTA, which establishes the basic rights, liabilities, and responsibilities of consumers who use electronic fund transfer services and of financial institutions that offer these services.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Definitions – Topic 3
- Regulation E Requirements – Topic 4
- General Disclosure Requirements – Jointly Offered Services – Topic 5
- Issuance of Access Devices – Topic 6
- Liability of Consumer for Unauthorized Transfers – Topic 7
- Initial Disclosures – Topic 8
- Change in Terms and Error Resolution Notice – Topic 9
- Receipts at Electronic Terminals and Periodic Statements – Topic 10
- Preauthorized Transfers – Topic 11
- Procedures for Resolving Errors – Topic 12
- Services Offered by Provider Not Holding Consumer’s Account – Topic 13
- Electronic Fund Transfer of Government Benefits – Topic 14
- Disclosures at Automated Teller Machines – Topic 15
- Requirements Overdraft Services – Topic 16
- Prepaid Card Accounts – Topic 17
- Internet Posting of Prepaid Account Agreements – Topic 18
- Requirements for Gift Cards and Gift Certificates – Topic 19
- Requirements for Remittance Transfers – Topic 20
- Relation to Other Laws – Topic 21
- Miscellaneous – Topic 22
- Audit Policy – Topic 23
- Staff Training – Topic 24
- Retention of Documentation – Topic 25
Includes the following form template:
- Regulation E Model Disclosure Clauses and Forms – (37 pages)
Recent updates to this product:
Deletion of Guidance Prior to 07/21/20 Effective Date.
CFPB Press Release – Consumer Financial Protection Bureau Issues Final Remittance Rule
CFPB Press Release – Rules Concerning Prepaid Accounts Under the Electronic Fund Transfer Act (Regulation E) and the Truth in Lending Act (Regulation Z)
This Regulation E Policy Template (approximately 64 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
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