Regulation E

Regulation E provides guidelines for consumers, banks or other financial institutions related to electronic funds transfers (EFTs). It outlines rules and procedures for electronic funds transfers, and procedures consumers must follow when reporting EFT errors and the steps a bank must follow to provide recourse. Guidelines for issuers of electronic debit cards are also provided under Regulation E.

Regulation E was put forth by the Federal Reserve System and adopted in 1978 as an add-on to the Consumer Credit Protection Act. The law and regulation establish the basic rights, liabilities, and responsibilities of consumers who use electronic fund transfer services and of financial institutions that offer these services.

Commercial customers are not covered by Regulation E. Therefore, it is crucial that business customers implement their own security measures.

Account Communications

Quaint Oak Bank may contact a customer regarding his or her account or suspicious activities related to his or her account. However, Quaint Oak Bank will never ask the customer to provide his or her log-in credentials over the phone or via email. If log-in credentials are requested, do not respond. Immediately call 866.795.4499. Do not call or email a contact that was provided to you through the suspicious communication.

Identity Theft Protection Information

Below is a list of advice to protect yourself and your business from identity theft.

• Be aware of red flags:
  • Trying to get you to move quickly
  • Talking fast/trying to confuse you
• Using names to intimidate you or make you think you are on the same team
• Do not open links or attachments from unknown or unexpected senders
• Verify the sender of an email
  • Consider is it logical
  • Consider is it in line with their typical communications

What to do if Victim of Identity Theft

If you believe you may be a victim of identity theft, follow the steps below:

• Contact the banks and companies where known identity theft occurred
• Contact the credit reporting agencies listed below and place fraud alerts

Equifax

PO Box 105069 | Atlanta, GA 30349-5069

To order a report: 800.685.1111 | To report fraud: 800.525.6285

Experian

PO Box 2002 | Allen, TX 75013-0949

To order a report: 888.397.3742 | To report fraud: 888.397.3742

Trans Union

PO Box 1000 | Chester, PA 19022

To order a report: 800.916.8800 | To report fraud: 800.680.7289

• Request copies of your credit reports
• Place a security freeze on your credit report
• Report identity theft to the FTC

Federal Trade Commission

• Report identity theft to the police
• Remove fraudulent information from your credit report
• Change all passwords
• Replace your stolen identification

Additional Resources

Cybersecurity Education Notice

The information on this page is provided for general educational purposes only and is not legal, financial, or cybersecurity advice. Fraud and identity theft tactics change frequently, and no guidance can guarantee the prevention of fraud, unauthorized transactions, or loss. Quaint Oak Bank does not monitor customer devices, systems, or third‑party services and is not responsible for their security practices. Customer rights, responsibilities, and any applicable reimbursement are governed by applicable law and your account agreements, which control in the event of any inconsistency. If you suspect fraud or identity theft involving your account, contact Quaint Oak Bank immediately so appropriate steps can be taken. Some materials may be adapted from FDIC consumer education resources.