How long does Reg E allow to resolve POS errors or electronic fund transfers (EFTs) not initiated within a state compared to pre-authorized EFT errors?

The correct answer is that the time frame to resolve Point of Sale (POS) errors or electronic fund transfers (EFTs) not initiated within a state is indeed longer compared to pre-authorized EFT errors. Under Regulation E, financial institutions have specific timelines for customers to report errors.

For POS and non-pre-authorized EFT errors, consumers are typically given 60 days from the date of the statement to report an error. However, for pre-authorized EFT errors, the resolution time is shorter. Since POS errors provide a broader window, the comparison illustrates that resolving issues with POS transactions generally takes twice as long as resolving pre-authorized EFT errors. This distinction helps consumers understand their rights and the responsibilities of financial institutions in resolving transaction errors effectively.