YOUR CONSUMER RIGHTS UNDER REGULATION E
Regulation E establishes the rights, liabilities and responsibilities of participants in electronic fund transfer (EFT) systems such as automated teller machine transfers, telephone bill-payment services, point-of-sale (POS) terminal transfers in stores, and preauthorized transfers from or to a consumer’s account (i.e. direct deposit or social security payments).
IMPORTANT
Please examine your statement immediately. We will assume that the balances it shows are correct unless you notify us of any disagreement within 60 days.
In Case of Errors or Questions About Electronic Transfers on Your Personal Account
Please telephone us at (608) 441-6000 or write us at PO Box 259404, Madison WI 53725-9404 as soon as you can, if you think your statement or receipt is wrong, or if you need more information about a transfer on your statement or receipt. We must hear from you no later than 60 days after we sent you the first statement on which the problem or error appeared.
Provide your name and account number.
Describe the error or transfer you are unsure about, explaining as clearly as you can why you believe there is an error or why you need more information.
Include the dollar amount of the suspected error.
We may require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.
The 10 day period in the preceding paragraph may be extended to 20 business days, if the error involves a transfer to or from the account within thirty days after the first deposit to the account was made. If the error involves an electronic transfer from your account to buy goods or services direct from a merchant, a transfer initiated outside of the United States or a transfer that occurred within 30 days after the first deposit was made, the 45 day time period to investigate your complaint or question will extend to ninety days. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.
This is a summary of your rights; a full statement of your rights and responsibilities under the Federal Fair Credit Billing Act will be sent to you both upon request and in response to a billing error notice.
Your Demand Deposit Loan Account is operated in conjunction with your Demand Deposit Account. Any charges for your checking account will be made to the Demand Deposit Account and they will be the same charges as are made for Demand Deposit Accounts not operated in conjunction with Demand Deposit Loan Accounts. The following information thus applies only to loans made to you under your Demand Deposit Loan Account line of credit.
In Case of Errors or Questions About Your Demand Deposit Loan
This is a Summary of Your Billing Rights
If you think your statement is wrong, or if you need more information about a transaction on your statement, write us at PO Box 259404, Madison WI 53725-9404 as soon as possible. We must hear from you no later than 60 days after we sent you your first statement on which the error or problem appeared. You can telephone us at (608) 441-6000 but doing so will not preserve your rights.
In your letter please give us the following information:
1. Provide your name and account number.
2. Include the dollar amount of the suspected error.
3. Describe the error and explain, if you can, why you believe there is an error. If you need more information, describe the item you are unsure about.
You do not have to pay any amount in question while we are investigating, but you are still obligated to pay the parts of your bill that are not in question. If you have authorized us to pay your minimum monthly payment automatically by charging your deposit account with us, you can stop the payment on any amount you think is wrong. To stop the payment, your letter must reach us three business days before the automatic payment is scheduled to occur.
How the Finance Charge (if any) is Calculated
If your statement includes billing information regarding a Demand Deposit Loan, the FINANCE CHARGE for each statement (loan) period is calculated by applying the applicable daily periodic rate(s) to the “Daily Balance” of your account for the billing cycle. To get the “Daily Balance” we take the beginning balance of your account each day, add any new loans or charges and subtract any payments or credits and unpaid FINANCE CHARGES. This gives us the daily balance. The minimum periodic payment is shown on the front of the statement. You may pay off your Demand Deposit Loan Account loan balance at any time, or make voluntary additional payments. Payments shall be applied, first to any unpaid FINANCE CHARGES, and second the principal loan balance outstanding in your Demand Deposit Loan Account. Payments received during regular banking hours at our office will be credited on the same banking day. Payments received after regular banking hours will be credited on the next banking day.
