The Federal Reserve Board has 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.
See the Board’s press release for full details.
