Regulation E: Electronic Funds Transfers

Course Outline

Regulation E: Electronic Funds Transfers

Seat Time: 0.75hrs - Desc:

This course will introduce the learner to Regulation E and the ways in which it is related to the Electronic Funds Transfer Act (EFT). The learner will be presented with an overview of how the EFT system affects consumers through disclosures and established rights. After completing this program, the learner will understand:

• The relationship of the consumer to the EFT system.
• The necessity of disclosures and details about the content of disclosures.
• What is considered an EFT error.

Course Topics

T1. Regulation E: This topic will introduce the learner to Regulation E, which implements the Electronic Funds Transfer (EFT) Act and provides individual consumers with a framework of the rights, liabilities, and responsibilities for users of the Electronic Funds Transfer system.

T2. Disclosures: This topic will discuss the disclosure of certain terms and conditions of the Electronic Funds Transfer (EFT) service to the consumer prior to the first EFT involving a consumerÆs account, and will discuss error resolution notices, receipts, statements, and exceptions.

T3. Investigation of Errors: This topic will define errors and will provide examples of errors involving Electronic Funds Transfers (EFTs), and will also describe notice errors from consumers and how to address errors in general.