15 USC 1693d - Documentation of transfers

U.S Code last checked for updates: Apr 27, 2024

§ 1693d.

Documentation of transfers

(a)

Availability of written documentation to consumer; contents

For each electronic fund transfer initiated by a consumer from an electronic terminal, the financial institution holding such consumer’s account shall, directly or indirectly, at the time the transfer is initiated, make available to the consumer written documentation of such transfer. The documentation shall clearly set forth to the extent applicable—

(1)

the amount involved and date the transfer is initiated;

(2)

the type of transfer;

(3)

the identity of the consumer’s account with the financial institution from which or to which funds are transferred;

(4)

the identity of any third party to whom or from whom funds are transferred; and

(5)

the location or identification of the electronic terminal involved.

(b)

Notice of credit to consumer

(c)

Periodic statement; contents

A financial institution shall provide each consumer with a periodic statement for each account of such consumer that may be accessed by means of an electronic fund transfer. Except as provided in subsections (d) and (e), such statement shall be provided at least monthly for each monthly or shorter cycle in which an electronic fund transfer affecting the account has occurred, or every three months, whichever is more frequent. The statement, which may include information regarding transactions other than electronic fund transfers, shall clearly set forth—

(1)

with regard to each electronic fund transfer during the period, the information described in subsection (a), which may be provided on an accompanying document;

(2)

the amount of any fee or charge assessed by the financial institution during the period for electronic fund transfers or for account maintenance;

(3)

the balances in the consumer’s account at the beginning of the period and at the close of the period; and

(4)

the address and telephone number to be used by the financial institution for the purpose of receiving any statement inquiry or notice of account error from the consumer. Such address and telephone number shall be preceded by the caption “Direct Inquiries To:” or other similar language indicating that the address and number are to be used for such inquiries or notices.

(d)

Consumer passbook accounts

(e)

Accounts other than passbook accounts

(f)

Documentation as evidence

(Pub. L. 90–321, title IX, § 906, as added Pub. L. 95–630, title XX, § 2001, Nov. 10, 1978, 92 Stat. 3731; amended Pub. L. 111–203, title X, § 1084(1), July 21, 2010, 124 Stat. 2081.)

cite as: 15 USC 1693d