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Electronic Fund Transfers

Fed · final-rule · Published 2001-03-06 · Effective 2001-03-09 · 66 FR 13409

Document

Document number
01-5295
Federal Register citation
66 FR 13409
CFR reference
12 CFR 205
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US Federal Reserve System
Publication date
2001-03-06
Effective date
2001-03-09
Docket
Regulation E

Abstract

The Board is publishing revisions to Regulation E, which implements the Electronic Fund Transfer Act. The revisions implement amendments to the act contained in the Gramm-Leach-Bliley Act that require the disclosure of certain fees associated with automated teller machine (ATM) transactions. The amendments require ATM operators that impose a fee for providing electronic fund transfer services to post a notice in a prominent and conspicuous location on or at the ATM. The operator must also disclose that a fee will be imposed and the amount of the fee, either on the screen of the machine or on a paper notice, before the consumer is committed to completing the transaction. In addition, when the consumer contracts for an electronic fund transfer service, financial institutions are required to provide initial disclosures, including a notice that a fee may be imposed for electronic fund transfers initiated at an ATM operated by another entity.

Source

Authoritative
Federal Register document
Machine
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