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ACH payments are consistently ranked as one of the safest payment methods a business can accept, and are regulated by the FederalReserve Bank and Electronic Fund Transfer Act. Regulation E also provides consumers with dispute and errorresolution rights.
Endnotes [1] Defined as “a digital representation of value that is used as a medium of exchange, unit of account, or store of value, and that is not legal tender, whether or not denominated in legal tender, except as specified.” [2] 6] 23 NYCRR Part 200.
Key Regulatory Organizations in The USA FederalReserve System: The FederalReserve , often referred to as the Fed, plays a central role in overseeing the nation’s payment systems. It covers disclosures, errorresolution procedures, and limitations on consumer liability for unauthorized transfers.
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