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Electronic Fund Transfers

Fed · final-rule · Published 1995-03-22 · Effective 1995-04-24 · 60 FR 15032

Document

Document number
95-6971
Federal Register citation
60 FR 15032
CFR reference
12 CFR 205
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US Federal Reserve System
Publication date
1995-03-22
Effective date
1995-04-24
Docket
Regulation E

Abstract

The Board is publishing a final rule amending Regulation E (Electronic Fund Transfers). The amendment eliminates the requirement that an electronic terminal receipt disclose a number or code that uniquely identifies the consumer, the consumer's account, or the access device. This requirement posed a significant security risk to consumers and financial institutions by making information accessible to criminals that could be used to make fraudulent fund withdrawals. To address this problem, the Board adopted an interim rule effective December 1, 1994. The Board also sought comments on the interim rule and is amending the rule to address the comments received.

Source

Authoritative
Federal Register document
Machine
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