Rights of Consumers
If a person is required to be paid salary or government benefit by electronic funds transfer, the EFT Act recognizes their right to nominate the financial institution to which such payments are to be made.
The EFT Act also prohibits a creditor or lender from requiring a consumer to repay a loan or other credit by electronic fund transfer, except when there is an overdraft on checking plans.
Read more about this topic: Electronic Fund Transfer Act
Famous quotes containing the words rights of, rights and/or consumers:
“Individuality is the aim of political liberty. By leaving to the citizen as much freedom of action and of being, as comports with order and the rights of others, the institutions render him truly a freeman. He is left to pursue his means of happiness in his own manner.”
—James Fenimore Cooper (1789–1851)
“I argued that the chastity of women was of much more consequence than that of men, as the property and rights of families depend upon it.”
—James Boswell (1740–1795)
“The ideology of this America wants to establish reassurance through Imitation. But profit defeats ideology, because the consumers want to be thrilled not only by the guarantee of the Good but also by the shudder of the Bad.”
—Umberto Eco (b. 1932)