Describes the disclosures required by Regulation E that let consumers know their rights and responsibilities and about electronic fund transactions they made or have agreed to make. Describes the disclosures that explain what happens when there is a problem with an electronic funds transfer and what reporting obligations consumers have in order to avoid liability. Discusses periodic statement disclosures and those mandated at ATMs. Covers the rules a bank must follow if it decides to provide disclosures in electronic format.
After completing this course, students will be able to:
• Explain the following Regulation E required disclosures:
o Initial Disclosure
o Change in Terms Disclosure
o Terminal Receipts
o Periodic Statements
o Debit Fee Notice
o Error Resolution Notice
