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).
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.
How the Finance Charge (if any) is Calculated
If your statement includes billing information regarding a personal line of credit, the finance charge for each statement (loan) period is calculated by applying the applicable daily periodic rate(s) to the daily balances. To get daily balances, we take the beginning balance of your account each day, add any new loans or charges and subtract any payments or credits. Then, we multiply the daily balance each day of the statement period by the applicable daily periodic rate(s). We then add up all these daily finance charges to get your total finance charge. If there is only one (1) daily periodic rate during the statement period, the finance charge may also be verified by multiplying the average daily balance by the number of days in the statement period and multiplying the result by the applicable daily periodic rate. The periodic rate may vary. 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.
In Case of Errors or Questions About Your Personal Line of Credit
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 710 N. High Point Road, Madison, WI 53717 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) 836-1616 but doing so will not preserve your rights.
In your letter please give us the following information:
- Provide your name and account number.
- Include the dollar amount of the suspected error.
- 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.
In Case of Errors or Questions About Electronic Transfers on Your Personal Account
Please telephone us at (608) 836-1616 or write us at 710 N. High Point Road, Madison, WI 53717 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 will investigate your complaint and correct any error promptly. If we take more than 10 business days to do this, we will recredit your account for the amount you think is in error, so that you will have use of the money during the time it takes us to complete our investigation. If a notice of an error involves an electronic funds transfer that was not initiated within the United States or its territories or possessions, or involves a transfer resulting from a point-of-sale debit card transaction, the applicable time period for provisional credit is 10 business days and 90 calendar days to investigate.