That said, Consumer Reports (CR) points out that if a customer is “tricked and ends up authorizing money to be sent to scammers,” the banks are often no longer liable for reimbursing them. (5)According to the Consumer Financial Protection Bureau (CFPB), (4) Regulation E essentially protects Americans who fall victim to suspected fraud via an electronic transfer of funds from their financial institution. They add that if a case that falls under Regulation E is reported to a financial institution in a timely ...