This topic describes the processing of Regulation E in Oracle Banking Retail Accounts.

Customers must be given clear disclosures about their rights, liabilities, and responsibilities according to Regulation E, or the Electronic Funds Transfer Act, when using electronic fund transfer services.

The customer must be informed about the error resolution process in the account statement, as required by the regulations, by the bank. An additional section called the "appendix" has been added to the statement to detail the compliance with this requirement.

During the monthly cycle in which a Reg E eligible transaction occurs in a CASA account, an interim statement must be generated according to Regulation E. At the account level, the periodic statement parameter determines the statement generation date and frequency if the statement cycle is longer than a month, such as quarterly. If a Reg E transaction occurs on the account during a month other than the one for periodic statements, then an interim statement will be generated for that month.