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 and/or consumers:
“My dream is that as the years go by and the world knows more and more of America, it ... will turn to America for those moral inspirations that lie at the basis of all freedom ... that America will come into the full light of the day when all shall know that she puts human rights above all other rights, and that her flag is the flag not only of America but of humanity.”
—Woodrow Wilson (1856–1924)
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