Deposits Topics

Electronic Funds Transfer Act

Learn more about how we conduct compliance reviews related to Electronic Funds Transfer Act and explore other Deposits topics. View and download related resources.

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Electronic Funds Transfer Act

We evaluate the institution’s policies, procedures, and processes to determine compliance with the requirements Electronic Funds Transfer Act. Specifically,

  • general disclosure requirements,
  • issuance of access devices,
  • change-in-terms notifications,
  • documentation of transfers and receipts at ATMs,
  • periodic statement requirements,
  • error resolution including consumer liability calculations,
  • gift card disclosures,
  • overdraft services, and
  • record retention.

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