All
All
Parallel
Title
Appellant
Respondent
Lawyer
Parallel Search is an AI-driven legal research functionality that uses natural language understanding to find conceptually relevant case law, even without exact keyword matches.
Hi, I'm AMICUS. Your GPT powered virtual legal assistant.
Let's chat.
Log in
Sign Up
Select Country
US
UK
&
Ireland
AMICUS AI
CaseIQ
Keyword Research
Parallel Search
Browse
Commentaries
Columns
My Project
New chat
Supreme Court
High Courts
All High Courts
Allahabad High Court
Andhra Pradesh High Court
Bombay High Court
Calcutta High Court
Chhattisgarh High Court
Delhi High Court
Gauhati High Court
Gujarat High Court
Himachal Pradesh High Court
Jammu and Kashmir High Court
Jharkhand High Court
Karnataka High Court
Kerala High Court
Madhya Pradesh High Court
Madras High Court
Manipur High Court
Meghalaya High Court
Orissa High Court
Patna High Court
Punjab & Haryana High Court
Rajasthan High Court
Sikkim High Court
Telangana High Court
Tripura High Court
Uttarakhand High Court
12 C.F.R. § 205.7 : Banks and Banking — FEDERAL RESERVE SYSTEM — BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM — ELECTRONIC FUND TRANSFERS (REGULATION E) — Initial disclosures
Text
(a)
Timing of disclosures.
A financial institution shall make the disclosures required by this section at the time a consumer contracts for an electronic fund transfer service or before the first electronic fund transfer is made involving the consumer's account.
(b)
Content of disclosures.
A financial institution shall provide the following disclosures, as applicable:
(1)
Liability of consumer.
A summary of the consumer's liability, under §205.6 or under state or other applicable law or agreement, for unauthorized electronic fund transfers.
(2)
Telephone number and address.
The telephone number and address of the person or office to be notified when the consumer believes that an unauthorized electronic fund transfer has been or may be made.
(3)
Business days.
The financial institution's business days.
(4)
Types of transfers; limitations.
The type of electronic fund transfers that the consumer may make and any limitations on the frequency and dollar amount of transfers. Details of the limitations need not be disclosed if confidentiality is essential to maintain the security of the electronic fund transfer system.
(5)
Fees.
Any fees imposed by the financial institution for electronic fund transfers or for the right to make transfers.
(6)
Documentation.
A summary of the consumer's right to receipts and periodic statements, as provided in §205.9, and notices regarding preauthorized transfers as provided in §§205.10(a), and
205.10
.
(7)
Stop payment.
A summary of the consumer's right to stop payment of a preauthorized electronic fund transfer and the procedure for placing a stop-payment order, as provided in §205.10(c).
(8)
Liability of institution.
A summary of the financial institution's liability to the consumer under section 910 of the act for failure to make or to stop certain transfers.
(9)
Confidentiality.
The circumstances under which, in the ordinary course of business, the financial institution may provide information concerning the consumer's account to third parties.
(10)
Error resolution.
A notice that is substantially similar to Model Form A-3 as set out in appendix A of this part concerning error resolution.
(11)
ATM fees.
A notice that a fee may be imposed by an automated teller machine operator as defined in §205.16(a)(1), when the consumer initiates an electronic fund transfer or makes a balance inquiry, and by any network used to complete the transaction.
(c)
Addition of electronic fund transfer services.
If an electronic fund transfer service is added to a consumer's account and is subject to terms and conditions different from those described in the initial disclosures, disclosures for the new service are required.
12 C.F.R. § 205.7
Reg. E, 61 FR 19669, 5/2/1996, as amended at 66 FR 13412, 3/6/2001; 71 FR 1659, 1/10/2006
×