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#2256394 - 07/07/21 07:01 PM Reg E Return Item Statement Requirements
YHWB Offline
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For electronic fund transfers, statements are to include details like terminal location, names of the third parties, account holding institution etc.

what are the requirements, when these debit/credit transactions are reversed or returned. Are return items covered by Reg E?

The regulation states: The term “electronic fund transfer” does not include...transactions arising from the electronic collection, presentment, or return of checks through the check collection system, such as through transmission of electronic check images.

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#2256395 - 07/07/21 07:05 PM Re: Reg E Return Item Statement Requirements YHWB
rlcarey Online
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rlcarey
Joined: Jul 2001
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Galveston, TX
If they were returned, why would they hit a periodic statement? Maybe I don't understand?
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#2256397 - 07/07/21 07:48 PM Re: Reg E Return Item Statement Requirements YHWB
YHWB Offline
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So a credit is posted to an account, and two days later returned. Wouldn't the credit show on the statement? and also the debit?

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#2256398 - 07/07/21 08:11 PM Re: Reg E Return Item Statement Requirements YHWB
BrianC Online
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BrianC
Joined: Nov 2004
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What type of credit? ACH, debit card, Online transfer, check deposit?

The "return" exclusion you referenced has to do with the processing of checks. Without knowing what type of transaction you are referencing, we can't comment on the applicability of Reg E.
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#2256399 - 07/07/21 08:15 PM Re: Reg E Return Item Statement Requirements YHWB
YHWB Offline
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Thank you Brian. A return of an original Reg E covered item, for example a ACH credit.

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