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7/26/24, 4:25 PM FRB: Press Release -- Revisions to staff commentary on Regulation E (Electronic Fund Transfers) -- March 13, 2001 Release Date: March 13, 2001 For immediate release The Federal Reserve Board today published revisions to the Regulation E (Electronic Fund Transfers) Official Staff Commentary, which applies and interprets the requirements of the regulation. The effective date is March 15, 2001; however, to allow time for any necessary operational changes, the mandatory compliance date is January 1, 2002. The revisions provide guidance on electronic check conversion transactions when a consumer authorizes the use of a check to capture information for initiating an electronic debit from the consumer�s account. Guidance is also provided on electronic authorizations permitting recurring debits from a consumer�s account and other issues. The commentary is intended to help financial institutions comply with Regulation E when they offer electronic fund transfer services to consumers. The Board�s notice is attached. Attachment (148 KB PDF) 2001 Banking and consumer regulatory policy Home | News and events Accessibility Last update: March 13, 2001 https://www.federalreserve.gov/boarddocs/press/boardacts/2001/20010313/default.htm 1/1