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TCH Examines Reg E Error Resolution for Intermediated Transfers

The Clearing House has released a white paper that analyzes the application of the Electronic Fund Transfer Act (EFTA) and Regulation E (Reg E) error resolution requirements to financial institutions involved in certain person-to-person (P2P) transactions.  The white paper aims to provide additional information for the financial institutions involved in an Intermediated Transfer – the sender’s bank and the transfer provider – and to help supplement the Frequently Asked Questions (FAQs) issued by the Consumer Financial Protection Bureau (CFPB) in June and December 2021 regarding the EFTA and its implementing regulation, Reg E.