Regulation E provides consumers certain protections from unauthorized electronic funds transfers. §1005.2(m) defines these as …an electronic fund transfer from a consumer's account initiated by a person other than the consumer without actual authority to initiate the transfer and from which the consumer receives no benefit.... It’s not uncommon for a consumer to initiate a transaction but not read the fine print. When they get charged later on, they often report it to the institution looking to get their money back. While it does depend on the circumstances surrounding the specific transaction(s) in question, many times these do not meet the definition of “unauthorized”.
Jerod explains more in the video.
Published 2026/04/07
Jerod is the leader of Banker’s Compliance Consulting’s training productions. He is a nationally recognized speaker. Whether it’s a conference, seminar, school, webinar or luncheon, it’s easy to stay engaged when he presents due to the amount of passion and energy he brings to each and every compliance topic. Jerod has spoken on behalf of the American Bankers’ Association, BankersOnline, many state banking associations, private compliance groups and financial institutions. He is a Certified Regulatory Compliance Manager (CRCM) and BankersOnline Guru. Jerod likes to spend his time (between reading regulations and producing compliance training!) relaxing at the lake with his wife and three children, following their activities or engaged in something sports-related!
