{"identifier":"/us/usc/t15/s1693c","title":15,"num":"\u00a7\u202f1693c.","heading":"Terms and conditions of transfers","text":"\u00a7\u202f1693c.\nTerms and conditions of transfers\n(a)\nDisclosures; time; form; contents\nThe terms and conditions of electronic fund transfers involving a consumer\u2019s 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\u2014\n(1) the consumer\u2019s liability for unauthorized electronic fund transfers and, at the financial institution\u2019s option, notice of the advisability of prompt reporting of any loss, theft, or unauthorized use of a card, code, or other means of access;\n(2) the telephone number and address of the person or office to be notified in the event the consumer believes than\n1\n1 So in original. Probably should be \u201cthat\u201d.\n(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;\n(4) any charges for electronic fund transfers or for the right to make such transfers;\n(5) the consumer\u2019s right to stop payment of a preauthorized electronic fund transfer and the procedure to initiate such a stop payment order;\n(6) the consumer\u2019s right to receive documentation of electronic fund transfers under\nsection 1693d of this title\n(7) a summary, in a form prescribed by regulations of the Bureau, of the error resolution provisions of\nsection 1693f of this title\n(8) the financial institution\u2019s liability to the consumer under\nsection 1693h of this title\n(9) under what circumstances the financial institution will in the ordinary course of business disclose information concerning the consumer\u2019s account to third persons; and\n(10) a notice to the consumer that a fee may be imposed by\u2014\n(A) an automated teller machine operator (as defined in\nsection 1693b(d)(3)(D)(i) of this title\n(B) any national, regional, or local network utilized to effect the transaction.\n(b)\nNotification of changes to consumer\nA 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\u2019s 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\u2019s 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\u2019s account. Subject to subsection (a)(3), the Bureau shall require subsequent notification if such a change is made permanent.\n(c)\nTime for disclosures respecting accounts accessible prior to effective date of this subchapter\nFor 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\u2014\n(1) the first periodic statement required by\nsection 1693d(c) of this title\n(2) thirty days after the effective date of this subchapter.","url":"https://projectusc.org/usc/t15/s1693c.html","content":[{"t":"sec","id":"/us/usc/t15/s1693c","children":[{"t":"num","text":"\u00a7\u202f1693c."},{"t":"heading","text":"Terms and conditions of transfers"},{"t":"subsec","id":"/us/usc/t15/s1693c/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Disclosures; time; form; contents"},{"t":"chapeau","text":"The terms and conditions of electronic fund transfers involving a consumer\u2019s 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\u2014"},{"t":"para","id":"/us/usc/t15/s1693c/a/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" the consumer\u2019s liability for unauthorized electronic fund transfers and, at the financial institution\u2019s option, notice of the advisability of prompt reporting of any loss, theft, or unauthorized use of a card, code, or other means of access;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693c/a/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" the telephone number and address of the person or office to be notified in the event the consumer believes than\u202f","children":[{"t":"ref","text":"1"},{"t":"num","text":"1","tail":"\u202fSo in original. Probably should be \u201cthat\u201d."},{"t":"text","text":"\u202fSo in original. Probably should be \u201cthat\u201d.","tail":" an unauthorized electronic fund transfer has been or may be effected;"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693c/a/3","children":[{"t":"num","text":"(3)"},{"t":"content","text":" 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;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693c/a/4","children":[{"t":"num","text":"(4)"},{"t":"content","text":" any charges for electronic fund transfers or for the right to make such transfers;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693c/a/5","children":[{"t":"num","text":"(5)"},{"t":"content","text":" the consumer\u2019s right to stop payment of a preauthorized electronic fund transfer and the procedure to initiate such a stop payment order;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693c/a/6","children":[{"t":"num","text":"(6)"},{"t":"content","text":" the consumer\u2019s right to receive documentation of electronic fund transfers under ","children":[{"t":"ref","text":"section 1693d of this title","href":"/us/usc/t15/s1693d","tail":";"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693c/a/7","children":[{"t":"num","text":"(7)"},{"t":"content","text":" a summary, in a form prescribed by regulations of the Bureau, of the error resolution provisions of ","children":[{"t":"ref","text":"section 1693f of this title","href":"/us/usc/t15/s1693f","tail":" and the consumer\u2019s rights thereunder. The financial institution shall thereafter transmit such summary at least once per calendar year;"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693c/a/8","children":[{"t":"num","text":"(8)"},{"t":"content","text":" the financial institution\u2019s liability to the consumer under ","children":[{"t":"ref","text":"section 1693h of this title","href":"/us/usc/t15/s1693h","tail":";"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693c/a/9","children":[{"t":"num","text":"(9)"},{"t":"content","text":" under what circumstances the financial institution will in the ordinary course of business disclose information concerning the consumer\u2019s account to third persons; and","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693c/a/10","children":[{"t":"num","text":"(10)"},{"t":"chapeau","text":" a notice to the consumer that a fee may be imposed by\u2014"},{"t":"subpara","id":"/us/usc/t15/s1693c/a/10/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" an automated teller machine operator (as defined in ","children":[{"t":"ref","text":"section 1693b(d)(3)(D)(i) of this title","href":"/us/usc/t15/s1693b/d/3/D/i","tail":") 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"}],"tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t15/s1693c/a/10/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" any national, regional, or local network utilized to effect the transaction.","tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t15/s1693c/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Notification of changes to consumer"},{"t":"content","children":[{"t":"p","text":"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\u2019s 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\u2019s 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\u2019s account. Subject to subsection (a)(3), the Bureau shall require subsequent notification if such a change is made permanent.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t15/s1693c/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Time for disclosures respecting accounts accessible prior to effective date of this subchapter"},{"t":"chapeau","text":"For 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\u2014"},{"t":"para","id":"/us/usc/t15/s1693c/c/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" the first periodic statement required by ","children":[{"t":"ref","text":"section 1693d(c) of this title","href":"/us/usc/t15/s1693d/c","tail":" after the effective date of this subchapter; or"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693c/c/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" thirty days after the effective date of this subchapter.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}