Reg E Flashcards
Reg E classifies both failure to include a transfer on the periodic statement and a consumer request for more information as _________”.
Errors
A DFI must respond to a notice of an error by either resolving it within ________ or recrediting the customer account during a _______-day investigation.
10 business days, 45
Reg E allows exactly twice as long to resolve ________ errors or EFTs that are not initiated within a state as pre-authorized EFT errors.
POS
A DFI ________ provisionally re-credit a customer account if it required written confirmation following oral notice of an error and the customer did not provide it.
Does not have to
DFIs have ______ business days to correct confirmed errors.
One
DFI may notify consumers of corrected errors via the ________.
periodic statement
If loss/theft of access device is not reported within two business days, the consumer’s liability will exceed ________ if financial institution establishes that unauthorized transactions would not have occurred if loss/theft had been appropriately reported.
$50
DFI has _______ business days after completing its investigation to report the results to the consumer
three
Reg E requirements for notices of varying amount and stop payment for recurring payments are the not the same as _____ requirements.
Nacha
_________ and _______ accounts are not exempt from Reg E disclosure requirements
Government-initiated transfers, passbook
If an FI is small (asset size of $ 100 million or less), debits and credits it receives are exempt from ___________________________.
Reg E disclosure requirements
Reg E covers all ACH ______________ transactions.
Consumer
