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
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