The Electronic Fund Transfer Act of 1978 sets out which of the following?

A) The rights and liabilities of the parties in electronic fund transfers.
B) How banks must handle transfers between each other.
C) Consumers can sue the banks if funds are misplaced.
D) How banks must transfer money overseas.
E) How merchants transfer funds between each other.

Question

Zybrea Knight · Accepted Answer

Final Answer : A, Explanation :  The Electronic Fund Transfer Act of 1978 primarily addresses the rights, liabilities, and protections for consumers engaging in electronic fund transfers, ensuring consumers are protected in transactions like ATM withdrawals, direct deposits, and transfers between accounts.

Definitions

Learning Objectives

Learning Objectives

Related questions