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