The Electronic Fund Transfer Act was passed by the U.S. Congress in 1978 and signed by President Jimmy Carter, to establish the rights and liabilities of consumers as well as the responsibilities of all participants in electronic funds transfer activities.
The act was implemented in Federal Reserve Board Regulation E.
Read more about Electronic Fund Transfer Act: Rights of Consumers, Financial Institution Liability, Limit To Customer Liability On Loss or Theft of Card, EFT Errors, What The EFT Act Covers
Famous quotes containing the words electronic, fund, transfer and/or act:
“The car as we know it is on the way out. To a large extent, I deplore its passing, for as a basically old- fashioned machine, it enshrines a basically old-fashioned idea: freedom. In terms of pollution, noise and human life, the price of that freedom may be high, but perhaps the car, by the very muddle and confusion it causes, may be holding back the remorseless spread of the regimented, electronic society.”
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—Bible: New Testament, Matthew 7:26-27.
Jesus.