Implemented by _______________, EFTA is intended to provide certain rights to individual consumers using EFT payment systems. It also places responsibilities on financial institutions whose accounts are affected by EFTs.
Implemented by _______________, EFTA is intended to provide certain rights to individual consumers using EFT payment systems. It also places responsibilities on financial institutions whose accounts are affected by EFTs.
Regulation E (Electronic Fund Transfers) implements the Electronic Fund Transfer Act (EFTA). EFTA provides certain rights to individual consumers using EFT payment systems and places responsibilities on financial institutions whose accounts are affected by EFTs. Regulation E covers various aspects of electronic fund transfers, including transfers through automated teller machines (ATMs), point-of-sale terminals, and automated clearinghouse (ACH) systems, ensuring consumer protection in the electronic banking environment.
The correct answer is A. Regulation E (Electronic Fund Transfers). Regulation E implements the Electronic Fund Transfer Act (EFTA) and is designed to provide rights to consumers and place responsibilities on financial institutions involved in electronic fund transfers. This regulation covers various aspects of EFTs, including transfers through automated teller machines (ATMs), point-of-sale terminals, and automated clearinghouse (ACH) systems, among others, ensuring consumer protection in the electronic banking environment.