Electronic Funds Transfer Act for Compliance Professionals
Course Number: ABA
Course Code: ABA
Covers the fundamental requirements of the Electronic Funds Transfer Act (EFTA) and Regulation E with examples of dispute resolution application and checklists.
After completing this course, students will be able to:
-Describe the disclosures required by Regulation E and the penalties, and violations for non-compliance
-Define electronic funds transfer error resolution
-Explain how to handle inquiries about customer liability
-Explain the Regulation E rules pertaining to debit cards and ATM overdraft fees, and fee restrictions and expiration dates on gift cards
-Identify the transactions and disclosure requirements covered under the foreign remittance rules
Audience: Compliance and risk management professionals including compliance managers, officers, and other team members whose primary role is within the compliance function at their financial institution; bank examiners, bank regulators, and auditors.