U.S. Code » Title 15 » Chapter CHAPTER 41— CONSUMER CREDIT PROTECTION › Subchapter SUBCHAPTER VI— ELECTRONIC FUND TRANSFERS

15 U.S.C. § 1693c

Terms and conditions of transfers

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(a) Disclosures; time; form; contentsThe terms and conditions of electronic fund transfers involving a consumer’s account shall be disclosed at the time the consumer contracts for an electronic fund transfer service, in accordance with regulations of the Bureau. Such disclosures shall be in readily understandable language and shall include, to the extent applicable—(1) the consumer’s liability for unauthorized electronic fund transfers and, at the financial institution’s option, notice of the advisability of prompt reporting of any loss, theft, or unauthorized use of a card, code, or other means of access;(2) the telephone number and address of the person or office to be notified in the event the consumer believes than 11 So in original. Probably should be “that”. an unauthorized electronic fund transfer has been or may be effected;(3) the type and nature of electronic fund transfers which the consumer may initiate, including any limitations on the frequency or dollar amount of such transfers, except that the details of such limitations need not be disclosed if their confidentiality is necessary to maintain the security of an electronic fund transfer system, as determined by the Bureau;(4) any charges for electronic fund transfers or for the right to make such transfers;(5) the consumer’s right to stop payment of a preauthorized electronic fund transfer and the procedure to initiate such a stop payment order;(6) the consumer’s right to receive documentation of electronic fund transfers under section 1693d of this title;(7) a summary, in a form prescribed by regulations of the Bureau, of the error resolution provisions of section 1693f of this title and the consumer’s rights thereunder. The financial institution shall thereafter transmit such summary at least once per calendar year;(8) the financial institution’s liability to the consumer under section 1693h of this title;(9) under what circumstances the financial institution will in the ordinary course of business disclose information concerning the consumer’s account to third persons; and(10) a notice to the consumer that a fee may be imposed by—(A) an automated teller machine operator (as defined in section 1693b(d)(3)(D)(i) of this title) if the consumer initiates a transfer from an automated teller machine that is not operated by the person issuing the card or other means of access; and(B) any national, regional, or local network utilized to effect the transaction.(b) Notification of changes to consumer

A financial institution shall notify a consumer in writing at least twenty-one days prior to the effective date of any change in any term or condition of the consumer’s account required to be disclosed under subsection (a) if such change would result in greater cost or liability for such consumer or decreased access to the consumer’s account. A financial institution may, however, implement a change in the terms or conditions of an account without prior notice when such change is immediately necessary to maintain or restore the security of an electronic fund transfer system or a consumer’s account. Subject to subsection (a)(3), the Bureau shall require subsequent notification if such a change is made permanent.

(c) Time for disclosures respecting accounts accessible prior to effective date of this subchapterFor any account of a consumer made accessible to electronic fund transfers prior to the effective date of this subchapter, the information required to be disclosed to the consumer under subsection (a) shall be disclosed not later than the earlier of—(1) the first periodic statement required by section 1693d(c) of this title after the effective date of this subchapter; or(2) thirty days after the effective date of this subchapter.(Pub. L. 90–321, title IX, § 905, as added Pub. L. 95–630, title XX, § 2001, Nov. 10, 1978, 92 Stat. 3730; amended Pub. L. 106–102, title VII, § 703, Nov. 12, 1999, 113 Stat. 1464; Pub. L. 111–203, title X, § 1084(1), July 21, 2010, 124 Stat. 2081.)Editorial NotesReferences in Text

For effective date of this subchapter, referred to in subsec. (c), see section 921 of Pub. L. 90–321, set out as an Effective Date note under section 1693 of this title.

Amendments

2010—Subsecs. (a), (b). Pub. L. 111–203 substituted “Bureau” for “Board” wherever appearing.

1999—Subsec. (a)(10). Pub. L. 106–102 added par. (10).

Statutory Notes and Related SubsidiariesEffective Date of 2010 Amendment

Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.

Notes of Decisions
Cited in 20 cases (10 in the last 5 years), 1987–2025 · leading case: Carol Tims v. LGE Cmty. Credit Union, 935 F.3d 1228 (11th Cir. 2019).
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Carol Tims v. LGE Cmty. Credit Union, 935 F.3d 1228 (11th Cir. 2019). “See also 15 U.S.C. § 1693c (requiring financial institutions to make disclosures "in accordance with the regulations of the" CFPB "in readily understandable language").”
Feinman v. Bank of Delaware, 728 F. Supp. 1105 (D. Del. 1990). · cites it 8× “On the one hand, the Act requires that the terms and conditions of the account must be disclosed “in readily understandable language_” 15 U.S.C. § 1693c(a). Furthermore, such disclosures include, inter alia, “any limitations on the frequency or dollar amount of” ATM transfers,…”
Berenson v. Nat'l Fin. Servs., LLC, 403 F. Supp. 2d 133 (D. Mass. 2005). “15 U.S.C. § 1693c(a). The disclosure must include the fees and charges associated with the transfer.”
Spain v. Union Trust, 674 F. Supp. 1496 (D. Conn. 1987). · cites it 3× “Count Two Defendant violated 15 U.S.C. § 1693c and Reg. E, 295 C.F.R. § 205.”
Cobb v. Monarch Fin. Corp., 913 F. Supp. 1164 (N.D. Ill. 1995). “15 U.S.C. §§ 1693c, 1693d; 12 C.F.R. §§ 205.”
Bank of Am. v. City & Cnty. of San Francisco, 309 F.3d 551 (9th Cir. 2002). “…measures contemplated by it are aimed at promoting disclosure, preventing fraud, and allocating liability. See 15 U.S.C. § 1693c (requiring disclosure of terms and conditions of electronic transfers); § 1693d (requiring documentation of transfers); § 1693e (requiring a…”
Azose v. Washington Mut. Bank, 588 F. Supp. 2d 366 (E.D.N.Y 2008). “7 ; see 15 U.S.C. § 1693c(a)(4) (“The terms and conditions of electronic fund transfers involving a consumer’s account shall be disclosed at the time the consumer contracts for an electronic fund transfer service, in accordance with the regulations of the Board.”
Beaman v. Bank of Am., N.A. (D.N.J. 2023). · cites it 6× “EFTA, 15 U.S.C. § 1693c BOA argues Plaintiffs’ Section 1693c claim fails because, from the onset of the parties’ relationship, Plaintiffs’ Account Agreement permitted BOA to freeze their accounts upon suspicion of fraud or irregular activity without prior notice to the account…”
PayPal, Inc. v. CFPB, 58 F.4th 1273 (D.C. Cir. 2023). · cites it 4× “” 15 U.S.C. § 1693c(a); id. § 1693c(a)(1)–(10).”
Beaman v. Bank of Am., N.A. (D.N.J. 2024). · cites it 4× “EFTA, 15 U.S.C. § 1693c BOA argues Plaintiffs’ Section 1693c claims fail because EFTA, Regulation E, and the Account Agreement permit BOA to freeze accounts.”
Cheng v. HSBC Bank USA, N.A. (E.D.N.Y 2021). · cites it 3× “4 (a)(1); 15 U.S.C. § 1693c(a), and disclose “any charges for electronic fund transfers or for the right to make such transfers.”
Paypal, Inc. v. Consum. Fin. Prot. Bureau (D.D.C. 2020). · cites it 2× “” 15 U.S.C. § 1693c. But this cannot be read to control over the neighboring provision that specifies how the Bureau can regulate disclosure clauses.”
Show all 20 citing cases →
— 15 U.S.C. § 1693c(a) — 7 cases
Berenson v. Nat'l Fin. Servs., LLC, 403 F. Supp. 2d 133 (D. Mass. 2005). “15 U.S.C. § 1693c(a). The disclosure must include the fees and charges associated with the transfer.”
Feinman v. Bank of Delaware, 728 F. Supp. 1105 (D. Del. 1990). “On the one hand, the Act requires that the terms and conditions of the account must be disclosed “in readily understandable language_” 15 U.S.C. § 1693c(a). Furthermore, such disclosures include, inter alia, “any limitations on the frequency or dollar amount of” ATM transfers,…”
PayPal, Inc. v. CFPB, 58 F.4th 1273 (D.C. Cir. 2023). “” 15 U.S.C. § 1693c(a); id. § 1693c(a)(1)–(10).”
Beaman v. Bank of Am., N.A. (D.N.J. 2023). “EFTA, 15 U.S.C. § 1693c BOA argues Plaintiffs’ Section 1693c claim fails because, from the onset of the parties’ relationship, Plaintiffs’ Account Agreement permitted BOA to freeze their accounts upon suspicion of fraud or irregular activity without prior notice to the account…”
Cheng v. HSBC Bank USA, N.A. (E.D.N.Y 2021). “4 (a)(1); 15 U.S.C. § 1693c(a), and disclose “any charges for electronic fund transfers or for the right to make such transfers.”
— 15 U.S.C. § 1693c(a)(3) — 1 case
Feinman v. Bank of Delaware, 728 F. Supp. 1105 (D. Del. 1990). “On the one hand, the Act requires that the terms and conditions of the account must be disclosed “in readily understandable language_” 15 U.S.C. § 1693c(a). Furthermore, such disclosures include, inter alia, “any limitations on the frequency or dollar amount of” ATM transfers,…”
— 15 U.S.C. § 1693c(a)(4) — 5 cases
Feinman v. Bank of Delaware, 728 F. Supp. 1105 (D. Del. 1990). “On the one hand, the Act requires that the terms and conditions of the account must be disclosed “in readily understandable language_” 15 U.S.C. § 1693c(a). Furthermore, such disclosures include, inter alia, “any limitations on the frequency or dollar amount of” ATM transfers,…”
Azose v. Washington Mut. Bank, 588 F. Supp. 2d 366 (E.D.N.Y 2008). “7 ; see 15 U.S.C. § 1693c(a)(4) (“The terms and conditions of electronic fund transfers involving a consumer’s account shall be disclosed at the time the consumer contracts for an electronic fund transfer service, in accordance with the regulations of the Board.”
Paypal, Inc. v. Consum. Fin. Prot. Bureau (D.D.C. 2020). “” 15 U.S.C. § 1693c. But this cannot be read to control over the neighboring provision that specifies how the Bureau can regulate disclosure clauses.”
PayPal, Inc. v. CFPB, 58 F.4th 1273 (D.C. Cir. 2023). “” 15 U.S.C. § 1693c(a); id. § 1693c(a)(1)–(10).”
Cheng v. HSBC Bank USA, N.A. (E.D.N.Y 2021). “4 (a)(1); 15 U.S.C. § 1693c(a), and disclose “any charges for electronic fund transfers or for the right to make such transfers.”
— 15 U.S.C. § 1693c(b) — 3 cases
Feinman v. Bank of Delaware, 728 F. Supp. 1105 (D. Del. 1990). “On the one hand, the Act requires that the terms and conditions of the account must be disclosed “in readily understandable language_” 15 U.S.C. § 1693c(a). Furthermore, such disclosures include, inter alia, “any limitations on the frequency or dollar amount of” ATM transfers,…”
Beaman v. Bank of Am., N.A. (D.N.J. 2023). “EFTA, 15 U.S.C. § 1693c BOA argues Plaintiffs’ Section 1693c claim fails because, from the onset of the parties’ relationship, Plaintiffs’ Account Agreement permitted BOA to freeze their accounts upon suspicion of fraud or irregular activity without prior notice to the account…”
Beaman v. Bank of Am., N.A. (D.N.J. 2024). “EFTA, 15 U.S.C. § 1693c BOA argues Plaintiffs’ Section 1693c claims fail because EFTA, Regulation E, and the Account Agreement permit BOA to freeze accounts.”
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