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Fed Issues Final Rule on Small Dollar Receipts

The Federal Reserve Board has issued its final rule amending Regulation E allowing financial institutions to skip making a receipt available for purchases of $15 or less.

By Sarah Snell Cooke | Updated on July 06, 2007

WASHINGTON — The Federal Reserve Board has issued its final rule amending Regulation E allowing financial institutions to skip making a receipt available for purchases of $15 or less.

According to the Fed, consumer groups had argued for lowering the threshold to $5 so that vending machines and other small dollar automated purchases would be exempted. Small dollar industries, like vending machine operators, have complained that the cost of reconfiguring soda machines, metro fare card vendors, and others and printing receipts has kept them from accepting debit card payment.

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