Electronic Fund Transfers (Regulation E)

Financial institutions must disclose terms and conditions of electronic fund transfer services to consumers. Consumers have the right to receive periodic statements, to stop preauthorized transfers, and to resolve errors. Liability for unauthorized transfers is limited based on how quickly the consumer reports the loss.

The regulation covers ATM transactions, debit card purchases, direct deposits, electronic bill payments, and person-to-person electronic transfers. Institutions must investigate reported errors within specified timeframes and provide provisional credit while the investigation is pending.