The IT Law Wiki

Regulation E

32,297pages on
this wiki
Add New Page
Talk0 Share

Citation Edit

Regulation E, 12 C.F.R. 205, Electronic Funds Transfers (full-text).

Overview Edit

Regulation E was "promulgated by the Board of Governors of the Federal Reserve System to ensure consumers a minimum level of protection in disputes arising from electronic fund transfers."[1] It applies to electronic transactions that result in a debit or a credit to a consumer asset account. Regulation E provides that credit card account holder liability is limited to $50 (if the card is reported missing within 2 days of discovery) or $500 (if the card is reported missing more than 2 days after discovery). In such cases the remaining part of the claimed loss must be covered by the bank.

Regulation E does not apply to business accounts. Therefore, banks are not required to provide reimbursement for certain losses.

References Edit

  1. FFIEC IT Examination Handbook, Retail Payment Systems, App. B: Glossary (full-text).

See also Edit

Ad blocker interference detected!

Wikia is a free-to-use site that makes money from advertising. We have a modified experience for viewers using ad blockers

Wikia is not accessible if you’ve made further modifications. Remove the custom ad blocker rule(s) and the page will load as expected.

Also on Fandom

Random Wiki