Month: March 2023

The Electronic Funds Transfers Act (EFTA) and its promulgated Regulation E cover a wide range of transactions made by consumers.  The original Act was passed in 1978 due to the anticipated increase in electronic transactions.  As people went more to ATMs than tellers, Congress saw the need to protect consumers.  As technology created more ways […]

EFTA stands for the Electronic Funds Transfers Act.  It is a law that was first enacted in 1978 to protect consumers engaging in electronic transfers because impersonal banking was on the rise.  Less and less people were going to tellers, and more and more to machines. EFTA is implemented through Regulation E which was first […]