Skip to content

Reporting ACH DC Transaction on Periodic-Reg E

Answered by: 

Question: 
What is the Regulation E requirement for reporting an ACH Debit card transaction on a periodic statement?
Answer: 

Answer by Randy Carey:

Refer to 12 CFR 1005.9(b).

https://www.bankersonline.com/regulations/12-1005-009

Answer: 

Answer by Brian Crow:

Debit Card transactions that your institution is receiving as an ACH transaction are most likely connected to a "decoupled" debit card, that is a card issued by a third party that your customer has elected to connect to their account. Reg E 1005.14(b)(1)(iv) requires the issuer of the debit card to transmit sufficient information via the ACH network to enable you to comply with the periodic statement requirements of 1005.9(b).

Reg E 1005.14(c)(1) states that the account holding institution does not have any liability under Reg E if the card issuer fails to provide all of the required information. All your institution can do with these transactions is post the ACH transactions on the periodic statement based on the information that you received in the clearing file.

First published on 11/06/2016

Filed under: 
Filed under compliance as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics