Regulation E (electronic fund transfer error resolution and consumer liability)

Who is covered

Consumers with an asset account at a US financial institution: chequing and savings accounts, debit cards, prepaid accounts and ACH debits. Credit cards are excluded — they fall under Regulation Z and the Fair Credit Billing Act.

What you get

The disputed amount restored with interest and any fees the error caused, provisional credit within 10 business days where the bank takes longer, a written explanation with the underlying documents, and a civil action worth $100-$1,000 in statutory damages (trebled for a knowing and wilful failure) if the bank breaks the procedure.

Where claims go wrong

• Using Regulation E for a goods dispute. If the transfer was correct and authorised and the complaint is about the merchant, § 1005.11 does not apply — ask for a network chargeback instead.
• Reporting by phone and never confirming in writing.
• Letting the bank take 45 days without provisional credit.
• Accepting "you were negligent" as an answer. Comment 6(b)-2 says negligence cannot increase your liability.
• Missing the 60-day statement deadline, which is the one genuinely fatal date in the regime.