Bankruptcy Basics: Federal Error Resolution Rights.
The Electronic Fund Transfers Act (EFTA) provides consumers error correction rights applicable to debit card transactions, direct deposits, automatic bill payment plans, and other forms of electronic transfers withdrawn directly out of a consumer’s bank account. 15 U.S.C. § 1693; 12 C.F.R. § 205. The consumer must send a notice within sixty days after receiving a bank statement displaying the error, identifying the consumer and the bank account, and indicating the nature of the error. While this notice can be made orally, the bank can require a confirming notice in writing.

