Electronic Fund Transfers — 1994-12-02 [94-29625]

The Board is publishing an interim rule amending Regulation E (Electronic Fund Transfers). The amendment eliminates the requirement that an electronic terminal receipt disclose a number or code that uniquely identifies the consumer, the consumer's account, or the access device. This requirement currently poses a significant security risk for consumers and financial institutions by making information accessible to criminals that they then use to withdraw funds from consumers' accounts. The Board has adopted an interim rule that deletes the requirement for a unique identification, thus enabling institutions to truncate card or account numbers. The Board seeks public comment on the interim rule, which the Board will adopt in final following the close of the comment period.