Sentences with phrase «electronic funds transfer act»

Debit cards fall under the Electronic Funds Transfer Act for errors, loss or theft, but liability, which is capped by law at $ 50 for credit cards, may run from $ 50 to $ 500 or more for debit cards, depending on when you report the problem.

Regulation E carries out the purposes of the Electronic Funds Transfer Act, which establishes the basic rights, liabilities and responsibilities of consumers who use electronic fund transfer services and of financial institutions that offer these services.

If you order the Credit Union to stop one of these payments three (3) business days, or more, before the transfer is scheduled, and the Credit Union does not do so, the Credit Union will be liable for your losses or damages as provided in the Electronic Funds Transfer Act.

The foundation of the Electronic Fund Transfer Act which outlines consumer rights when it comes to EFT's (electronic fund transfers) which most commonly occur with debit card transactions.

Electronic Fund Transfer Act 2.

The Fair Credit Billing Act (FCBA) and the Electronic Fund Transfer Act (EFTA) offer procedures for you to use if your cards are lost or stolen.

The consumer protections for a debit card fall under the Electronic Fund Transfer Act and may differ from protections for a credit card under the FCBA.

ATM and debit card transactions are subject to the Electronic Fund Transfer Act (EFTA)(15 U.S.C. § 1693).

It may give you peace of mind that the Electronic Fund Transfer Act (EFTA) limits your liability to as low as $ 50 if you report unauthorized transactions within 60 days to financial institutions, beginning on the date of the first statements that contain the transactions.

any disclosure required by federal, state or local law, including disclosures under the Truth in Savings Act, Truth in Lending Act, Electronic Fund Transfer Act, the Equal Credit Opportunity Act, the Fair Credit Reporting Act and the financial privacy provisions of the Gramm - Leach - Bliley Act;

In addition, the Act amends the Electronic Fund Transfer Act (a) to provide for limitations on interchange transaction fees; (b) to prohibit exclusive payment networks and routing restrictions for debit cards; (c) to limit the restrictions that credit and debit card networks may impose on retailers regarding discounts or transaction amount limits based on form of payment, and (d) to provide standards for remittance fee practices.

Not exact matches

When you use an electronic fund transfer, the EFT Act does not give you the right to stop payment.

The primary objective of the act and Regulation E is the protection of individual consumers engaging in electronic fund transfers.

The primary objective of the Act and Regulation E is the protection of individual consumers engaging in electronic fund transfers.

A secure system to transfer funds that acts as the central clearing facility for Electronic Fund Transfer (EFT) transtransfer funds that acts as the central clearing facility for Electronic Fund Transfer (EFT) transTransfer (EFT) transactions.

Other commenters maintained that section 1179 of the Act means that the Act's privacy requirements do not apply to the request for, or the use or disclosure of, information by a covered entity with respect to payment: (a) For transferring receivables; (b) for auditing; (c) in connection with --(i) a customer dispute; or (ii) an inquiry from or to a customer; (d) in a communication to a customer of the entity regarding the customer's transactions payment card, account, check, or electronic funds transfer; (e) for reporting to consumer reporting agencies; or (f) for complying with: (i) a civil or criminal subpoena; or (ii) a federal or state law regulating the entity.

We do not consider a financial institution to be acting on behalf of a covered entity, and therefore no business associate contract is required, when it processes consumer - conducted financial transactions by debit, credit or other payment card, clears checks, initiates or processes electronic funds transfers, or conducts any other activity that directly facilitates or effects the transfer of funds for compensation for health care.

We note that we do not consider a financial institution to be acting on behalf of a covered entity, and therefore no business associate contract is required, when it processes consumer - conducted financial transactions by debit, credit or other payment card, Start Printed Page 82505clears checks, initiates or processes electronic funds transfers, or conducts any other activity that directly facilitates or effects the transfer of funds for compensation for health care.