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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...
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,...
It was reported yesterday that many Bank of America customers found out that money was missing from their bank accounts. It was determined, at least by the bank, that the culprit was a glitch in the Zelle system. Zelle is a payment application that allows account...
As banks turn to more and more on-line services, scammers are finding more and more ways into the systems. Reports of bank accounts being hacked into are on the rise. Consumers have to be more alert than ever to protect themselves. Here are some things you can...
EFTA stands for the Electronic Funds Transfers Act. And true to its name, it is the law that provides for the rights and responsibilities of those making electronic transfers. What is an electronic funds transfer? It is transferring funds through any sort of...