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#1731577 - 08/16/12 01:24 PM Reg E - required initial disc (changed vendors)
Julie C Offline
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Joined: Nov 2005
Posts: 100
We previously used ARTA Deposit for our new accounts processing but have recently changed to a new vendor.

Our ARTA disclosure for Reg. E has a section for "Foreign Currency Conversion and Cross-Border Transactions" and one for "Notice of ATM/Night Deposit Facility User Precautions".

Our new vendor's forms do not have these two sections on their Reg. E disclosure.

Are these required for Regulation E (I couldn't find a reference for them in the regulation) or are they a Visa/Mastercard requirement?

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eBanking / Technology
#1731622 - 08/16/12 02:47 PM Re: Reg E - required initial disc (changed vendors) Julie C
BrianC Online
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Joined: Nov 2004
Posts: 6,207
The Foreign Currency Conversion and Cross Border Transaction Fee are required disclosures under VISA/MasterCard rules as those card brands assess those fees to your cardholders when they complete an international transaction. I can't speak for Indiana, but in Illinois the User Precautions are a required disclosure under state law, it may be the same for you.
Sola Gratia, Sola Fides, Sola Scriptura, Solus Christus, Soli Deo Gloria!

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