Reg. E Error Resolution and Liability Calculator
This tool can be used to determine consumer liability under Regulation E and to check error resolution timing requirements. The Calculator allows selecting between Monday – Friday, or Monday – Saturday, business days, consistent with the Regulation E definition for “business day,” which a day on which the bank is open for business. The Calculator allows selecting specific federal holidays during which the bank is opened or closed for business, also consistent with the Regulation E definition for “business day.” The Calculator now includes Juneteenth as a federal holiday, for holidays beginning 2022, and thereafter.
The following are the key takeaways of the changes:
- Added a section into tab 1 for transfers not involving the loss or theft of an access device per 1005.6(b)(3) commentary.
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