guidelines from the federal financial institute’s examination council
The Federal Financial Institutes Examination Council (FFIEC) recently issued new supervisory guidance designed to help make online transactions more secure. At Skyla, we have implemented these guidelines to ensure your protection and security. Some enhancements will be visible to you while others occur behind the scenes. You'll continue to see more information on how you can take action to keep your identity and your financial information and funds secure.
consumer protection – regulation e
Regulation E (Electronic Fund Transfer Act) outlines the rules and procedures for error resolution and unauthorized transactions for electronic fund transfers, which includes most transactions processed online. In addition, it establishes limits to your financial liability for unauthorized electronic fund transfers. These limits, however, are directly related to the timeliness of your detection and reporting of issues to Skyla. It's for this reason that we encourage you to immediately review your account statements and to regularly monitor your account activity online.
For detailed information, review the “Electronic Fund Transfers” disclosure provided to you at the time of account opening. Can’t find it? Send us a request and we'll provide you with a free printed copy.