Fed Eliminates Another Receipt Requirement - Electronic Transactions Association

Site Search

Contact ETA | MyETA | About ETA

Home

News

Information Resources

Quick Links
My ETA Join ETA Strategic Leadership & Networking Forum Annual Meeting & Expo Transaction Trends

Fed Eliminates Another Receipt Requirement

The Federal Reserve has released a final rule that eliminates the need to provide consumers with receipts for electronic fund transfers (EFT) less than $15. This includes debit card and automated clearinghouse (ACH) transactions.

Under the Electronic Funds Transfer Act and the implementing regulations known as Reg. E, receipts must be made available at the time a consumer initiates an EFT. The new rule modifies that requirement. The change is expected to promote greater adoption of payment card usage at small dollar applications such as vending machines, parking meters and public transit systems over the next few years. The regulation will become effective sometime around August 1.

Additional information

Back

ETA Members Only
Login here to access your member information, membership status and member-only content.

Upcoming Events

Strategic Leadership &
Networking Forum
October 21-23, 2008
Chicago, IL

2009 ETA Annual
Meeting & Expo
April 21-23, 2009

Las Vegas, NV

Electronic Transactions Association
1101 16th Street NW Washington, DC 20036
Toll Free: 800.695.5509