Your Protection Under the Federal Rules of Regulation E

Banks are required to follow specific rules issued by the Federal Reserve Board, known as Regulation E (Reg E), for electronic transactions. Reg E covers various situations concerning electronic funds transfers. The consumer protections provided by Reg E limit your liability depending on how soon you detect and report any questionable transactions. If you report the questionable transactions, or losses, within two (2) days of receiving your statement, you can be liable for no more than the first $50. After two (2) days, the amount you can be liable for increases to no more than $500. After sixty (60) days, you could be liable for the full amount. Details of your rights are included in the Account Agreement you received at the time of account opening.