Electronic Fund Transfers — 1996-05-02 [96-10180]

The Board is publishing final revisions to its official staff commentary to Regulation E (which implements the Electronic Fund Transfer Act), as part of the Board's review of the regulation. The commentary applies and interprets the requirements of Regulation E to facilitate compliance by financial institutions that offer electronic fund transfer services to consumers. The revisions change the question- and-answer format to a narrative one to make the commentary easier to use and to conform it with the format of the Board's other staff commentaries. In conjunction with revisions to Regulation E adopted by the Board and published elsewhere in today's Federal Register, the revised commentary also includes interpretative provisions previously contained in the regulation that were more explanatory in nature and additional interpretations on matters not previously addressed.