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Electronic Fund Transfer Act (Reg E)

Act

Electronic Fund Transfer Act (Reg E)

EFTA establishes the rights, liabilities, and responsibilities of consumers and banks with regard to electronic fund transfers and includes requirements with regard to certain overdraft services. It also requires notices and creates rights for consumers who send international wire transfers (remittances). In addition, it sets caps on interchange debit card fees and gives merchants choices in routing debit card transactions.

Regulation E implements EFTA’s provisions related to consumer protections and bank responsibilities and those related to remittances. Regulation II implements the provisions related to interchange fee caps and routing requirements.

Statutes

15 U.S.C. 1693

Rules & Regulations

Staff Analysis

NPRM on Debit Interchange Fees
January 26, 2024
Prepaid Accounts
February 13, 2018
Consumer International Wire Transfers
May 6, 2013
Fed Routing Requirements for Debit and Prepaid Cards
March 22, 2013

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EFTA Questions from the Hotline

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Agency Guidance

Prepaid Cards CFPB Resources
June 7, 2023
Federal Reserve Board FAQs on Regulation II
November 2, 2016
Bureau Small Entity Compliance Guide: “International Fund Transfers”
August 8, 2013
FDIC Overdraft Payment Programs and Consumer Protection Final Overdraft Payment Supervisory Guidance
November 24, 2010

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Exam Procedures

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Policy Library
News

Policy Library

Letter to Congress & Regulators
Joint Comments to Congress on S. 4943/H.R. 9303, the Protecting Consumers from Payment Scams Act
August 28, 2024
Letter to Congress & Regulators
Joint Letter to CFPB on EFTA Wire Transfer Exception
June 21, 2024
Comment Letter
Joint Trades Letter re: Debit Card Interchange Fees and Routing
May 10, 2024
Comment Letter
Joint Comments to CFPB on the NPRM on Overdraft Lending
April 1, 2024

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News

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Proposed Rules

Related Training & Events

Check Fraud
Self-Paced Training
Electronic Funds Transfer Act (Reg E)
Self-Paced Training
Processing Debit Card Disputes and EFT Errors
Self-Paced Training
Reg E Prepaid Accounts
Self-Paced Training

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In Depth

Related Products

Debit Card - Discover

Our Experts

Hallee Morgan

Vice President & Senior Counsel, Regulatory Compliance and Policy

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