Reg E

Banking & Credit

Regulation E implements the Electronic Fund Transfer Act (EFTA), protecting consumers using debit cards, ATM cards, ACH transfers, and other electronic funds transfers. Key protections: limited liability for unauthorized transactions ($50 if reported within 2 business days; $500 within 60 days; unlimited after 60 days), required disclosures on terms and fees, mandatory error resolution procedures, and the right to stop preauthorized payments. Reg E doesn't apply to wire transfers or business accounts. Always monitor accounts weekly — the 60-day clock starts when the bank sends the statement, not when fraud occurs. Report suspicious activity immediately to limit liability.