(a) Entities required to report. Each issuer that is not otherwise exempt from the requirements of this
part under section 235.5(a) and each payment card network shall file a report
with the Board in accordance with this section.
(b) Report. Each entity required to file a report with the Board shall submit data
in a form prescribed by the Board for that entity. Data required to be
reported may include, but may not be limited to, data regarding costs
incurred with respect to an electronic debit transaction, interchange
transaction fees, network fees, fraud-prevention costs, fraud losses, and
transaction value, volume, and type.
(c) Record retention.
(1) An issuer subject to this part shall retain evidence of compliance with
the requirements imposed by this part for a period of not less than five
years after the end of the calendar year in which the electronic debit
transaction occurred.
(2) Any person subject to this part having actual notice that it is the
subject of an investigation or an enforcement proceeding by its enforcement
agency shall retain the records that pertain to the investigation, action, or
proceeding until final disposition of the matter unless an earlier time is
allowed by court or agency order.
