Electronic Fund Transfer Act October 2011

The Electronic Fund Transfer Act (EFTA) (15 USC 1693 et seq.) of 1978 is intended to protect individual consumers engaging in EFTs, which include: transfers through automated teller machines (ATM), point-of-sale (POS) terminals, automated clearinghouse (ACH) systems, telephone bill-payment plans in which periodic or recurring transfers are contemplated, and remote banking programs.