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Thursday, April 1, 2010, Part II Federal Reserve System McDonald on DSK2BSOYB1PROD with RULES2 12 CFR Part 205 Electronic Fund Transfers; Final Rule Verde Nov2008 14:45 Mar 31, 2010 Jet 220001 PO
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12 CFR Part 205 is a regulation that implements the Electronic Fund Transfer Act.
Financial institutions that offer electronic fund transfer services are required to comply with 12 CFR Part 205.
To fill out 12 CFR Part 205, financial institutions must provide information about electronic fund transfers, consumer rights, error resolution procedures, and other related requirements.
The purpose of 12 CFR Part 205 is to provide consumer protections for electronic fund transfers, such as disclosure of terms, error resolution procedures, and limitations on consumer liability.
Information that must be reported on 12 CFR Part 205 includes disclosure of terms and conditions of electronic fund transfers, error resolution procedures, and limitations on consumer liability.
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