Initial disclosure under Electronic funds transfer act includes:
Initial disclosure under Electronic funds transfer act includes:
The initial disclosures under the Electronic Funds Transfer Act (EFTA) include several key pieces of information to protect and inform consumers. These include a summary of the consumer's liability for unauthorized transfers, the telephone number and address of the person or office to be notified in case of any unauthorized transfer, and the types of electronic fund transfers (EFTs) the consumer may make along with any limitations on these transfers. These components ensure that consumers are aware of their rights, the appropriate contacts for reporting issues, and the nature of the EFT services they can use. While information on the institution's liability to the consumer for failure to make or stop transactions is relevant, it is not typically part of the initial disclosure requirements under EFTA.
The correct answer is C. The type of EFT the consumer may make and any limitations on EFTs. Initial disclosures under the Electronic Fund Transfer Act (EFTA) indeed include information about the types of electronic fund transfers a consumer is allowed to make and any limitations on such transfers, among other key details. However, the question seems to be seeking a specific aspect of the initial disclosures, and option C directly addresses an essential component of these disclosures. Nonetheless, it's important to note that the initial disclosure requirements under EFTA, implemented by Regulation E, actually encompass all the elements listed in the options, including summaries of consumer liability for unauthorized transfers, contact information for reporting unauthorized transfers, and details about the institution's liability. Therefore, a more comprehensive answer would recognize that initial disclosures cover a broad range of information to protect and inform the consumer, not just the types and limitations of EFTs.
A, C, D page 630