Implementing the Electronic Fund Transfer Act and Regulation E Policy Initiative for Auto Dealerships

The Electronic Funds Transfer Act ("EFTA") and "Regulation E" give consumers who use electronic fund transfer ("EFT") services certain rights, and makes financial institutions that offer these services follow certain rules, to protect consumers who use EFTs. The requirements imposed by the law apply to any electronic funds transfer that authorizes a financial institution to debit or credit a consumer’s asset account.

Implementation Steps in this Guide

1. Edit and Distribute the The Electronic Fund Transfer Act and Regulation E Policy

2. Distribute the The Electronic Fund Transfer Act and Regulation E Interactive Policy Training

3. Distribute the The Electronic Fund Transfer Act and Regulation E Assessment

Edit and Distribute the The Electronic Fund Transfer Act and Regulation E Policy

Edit the policy

1. Click on the Library tab
2. Search for "The Electronic Fund Transfer Act and Regulation E Policy" and click on it
3. Click on the Edit button to view the list of versions
4. Click Create Draft to the right of the latest published version
5. Click Edit next to the Draft version that you just created
6. Make desired changes to the policy
7. Click Publish when you have finished editing the policy

Schedule the activity for distribution

1. Click on the Workspaces tab
2. Click on the Consumer Finance workspace
3. Click on the Electronic Fund Transfer Act and Regulation E initiative
4. Click on the The Electronic Fund Transfer Act and Regulation E Policy
5. Click on Groups and assign to the appropriate groups, such as general managers, executives, controller and finance managers, or equivalent.
6. Click on Schedule and set an annual schedule based on the Hire Date. We recommend that you set the Immediate Distribution option to Yes. 
7. Click Save

Distribute the The Electronic Fund Transfer Act and Regulation E Interactive Policy Training

1. Click on the Workspaces tab
2. Click on the Consumer Finance workspace
3. Click on the Electronic Fund Transfer Act and Regulation E initiative
4. Click on the Introduction to Non-Mortgage Consumer Lending Interactive Policy Training
5. Click on Groups and assign to the appropriate groups, such as general managers, executives, controller and finance managers, or equivalent.
6. Click on Schedule and set an annual schedule based on the Hire Date. We recommend that you set the Immediate Distribution option to Yes. 
7. Click Save

Distribute the The Electronic Fund Transfer Act and Regulation E Assessment

1. Click on the Workspaces tab
2. Click on the Consumer Finance workspace
3. Click on the Electronic Fund Transfer Act and Regulation E initiative
4. Click on the The Electronic Fund Transfer Act and Regulation E Assessment
5. Click on Groups and assign to the appropriate groups, such as general managers, executives, controller and finance managers, or equivalent.
6. Click on Schedule and set an annual schedule based on the Hire Date. We recommend that you set the Immediate Distribution option to Yes. 
7. Click Save