Electronic Fund Transfer Act (EFTA)


Requires disclosures for consumer financial products or services to be clear, easily understandable, and provided in a format that can be retained by the consumer.


Required disclosures must be clear and readily understandable, in writing, and in a form the consumer may keep. The required disclosures may be provided to the consumer in electronic form, if the consumer affirmatively consents after receiving a notice that complies with the ESign Act (12 CFR 1005.4(a)(1)).
Disclosures may be made in a language other than English, if the disclosures are made available in English upon the consumer’s request (12 CFR 1005.4(a)(2)).
A financial institution has the option of disclosing additional information and combining disclosures required by other laws (for example, TILA disclosures) with Regulation E disclosures (12 CFR 1005.4(b)).

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