Overview
The Electronic Fund Transfer Act and its implementing Regulation E establish the rights, liabilities, and responsibilities of participants in electronic fund transfer systems. The law protects consumers engaging in electronic transfers including ATM transactions, direct deposits, point-of-sale transfers, and online banking. It requires financial institutions to provide specific disclosures, limits consumer liability for unauthorized transfers, establishes error resolution procedures, and restricts certain practices including compulsory use of electronic fund transfers. Regulation E is particularly relevant to fintech platforms, payment apps, and banking agreements that govern how consumer funds are handled electronically.
Penalties
Individual liability: actual damages, statutory damages of $100 to $1,000 per individual action, up to $500,000 or 1% of net worth for class actions. Attorney fees and costs.
Key Articles & Sections
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Section 905 / Reg E § 1005.6
Consumer Liability for Unauthorized Transfers
Limits consumer liability for unauthorized electronic fund transfers based on how quickly the consumer reports the loss or theft.
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Section 908 / Reg E § 1005.11
Error Resolution Procedures
Requires financial institutions to investigate and resolve errors reported by consumers within specific timeframes.
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Platforms We Track Subject to EFTA / Reg E
Recent Changes Related to EFTA / Reg E
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May 9, 2026
ADP
Low
ADP updated a phone number in the footer of its Privacy Policy from 877-840-2328 to 844-646-0618. This is a contact routing change and does not alter the substantive terms, rights, or protections des…
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May 9, 2026
Gusto
Low
Gusto's privacy policy was updated on May 9, 2026 to add two new document references in its table of contents: 'Gusto Handbook & Policy Compliance Scanner Beta Terms' and 'Handbook Builder Terms of S…
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May 9, 2026
Gusto
Low
Gusto updated its Terms of Service on May 9, 2026 with five technical corrections. The changes include updating contact email addresses (legal-opt-outs@gusto.com for arbitration opt-outs and support@…
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May 9, 2026
PayPal
Low
PayPal updated its Privacy Statement on May 9, 2026, changing the last-updated date from April 2, 2026 to May 6, 2026, and added footer information including company location, copyright notice, and l…
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May 9, 2026
PayPal
Low
PayPal updated its User Agreement on May 9, 2026 to clarify how automatic payment authorization works when your preferred payment method cannot complete a transaction. The updated terms now state tha…
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May 7, 2026
ADP
Low
ADP updated a customer service phone number in their privacy policy from 888-586-0098 to 877-840-2328. This is a minor administrative change affecting how customers can reach the company for privacy-…
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May 7, 2026
SoFi
Medium
SoFi revised its cookie and tracking technology disclosure on May 7, 2026. The previous language stated that SoFi uses pixels and tracking technologies to collect information and shares this data wit…
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May 6, 2026
ADP
Low
ADP updated a phone number in their privacy policy footer on May 6, 2026. The 'Talk to Sales' contact number changed from 855-953-4497 to 888-586-0098. This is an administrative update with no impact…
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May 6, 2026
Gusto
Low
Gusto updated two email addresses in their Terms of Service contact sections on May 6, 2026. The opt-out form submission address changed from legal-opt-outs@gusto.com to a redacted email address, and…
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May 6, 2026
SoFi
Medium
SoFi updated its Privacy Notice on May 6, 2026 to reorganize and clarify how it collects and shares tracking data. The previous version described cookies and tracking as optional and subject to user …
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ConductAtlas maps governance language to potentially relevant regulatory frameworks. Regulatory applicability and enforceability may vary by jurisdiction, enforcement context, and individual circumstances. This page is informational and does not constitute legal advice. Methodology
Provisions Governed by EFTA / Reg E (3 across 56 platforms)
Frequently Asked Questions
What does EFTA / Reg E require?
Which platforms does EFTA / Reg E apply to?
ConductAtlas tracks EFTA / Reg E-relevant provisions across 56 platforms. Each platform's specific provisions are classified by severity and mapped to EFTA / Reg E requirements.
How does ConductAtlas monitor EFTA / Reg E compliance?
ConductAtlas captures policy documents daily, classifies provisions by regulatory framework, and flags changes that affect EFTA / Reg E obligations. Every change is archived with cryptographic verification.