Release Date: June 28, 2007
For immediate release
The Federal Reserve Board on Thursday announced its approval of a final rule to create an exception for transactions of $15 or less from Regulation E's requirement that receipts be made available to consumers for transactions initiated at an electronic terminal.
Regulation E implements the Electronic Fund Transfer Act. The rule is intended to facilitate the ability of consumers to use debit cards in retail environments where making receipts available may not be practical or cost effective.
The effective date of the final rule is thirty days from the date of publication in the Federal Register, which is expected shortly.
The Federal Register notice is attached.