Regulation E provides basic protections for a consumer when using an electronic fund transfer service that the bank offers. Liability and error resolution are essential to the consumer protections of Regulation E and unauthorized transactions.

The regulation defines an error; states the consumers liability; and provides the error resolution procedures that banks must follow.

This course is intended for frontline, operations, and compliance personnel.

Learning Objectives:

• Define what applies to Regulation E
• Ensure compliance with the disclosure requirements
• Know how much money a customer is liable for on a particular unauthorized electronic fund transfer
• Complete an investigation of a notice of error in a timely manner
• Provide proper notice to a customer regarding their notice of error

Course Outline:

• Definitions
• Error Resolution Notice
• Consumer Liability
• Notice of Error
• Time Limits for Investigation
• Results of Investigation

Rev–Jan. 2021. Course length ≈ 27 minutes. This course is worth 0.5 CPE credits.