The Electronic Fund Transfer Act of 1978, implemented by Regulation E, is a consumer protection act that establishes the rights, liabilities, protections, and responsibilities of consumers who engage in electronic fund transfers. This course will provide you with an overview of the various requirements of Regulation E including, disclosures, overdrafts, gift cards, prepaid accounts, and remittance transfers. This course is intended for all personnel within the bank who work with customers that have deposit accounts, access devices, and perform remittance transfers as well as those in the operations department.
Learning Objectives:
- Define what applies to Regulation E
- Provide and explain the required disclosures to consumer customers
- Understand liability and error resolution processes
- Sell and disclose gift cards and prepaid accounts
- Comply with the remittance transfer rules
Course Outline:
- Introduction
- Definitions
- Disclosures
- Preauthorized Transfers
- Consumer Liability
- Error Resolution Procedures
- Overdraft Requirements
- Gift Cards
- Prepaid Accounts
- Remittance Transfers
Rev–Jan. 2021. Course length ≈ 45 minutes.
This course is worth 1.0 CPE credit.
