Assessments Electronic Fund Transfer Act (EFTA) Procedures 
Fi911
JANUARY 4, 2024
The Electronic Fund Transfer Act (EFTA) Enacted in 1978, EFTA regulates bank responses to consumer complaints and sets liability limits for lost or stolen debit cards. It was a response to emerging technologies like ATMs, electronic POS terminals, and remote banking.
Global Fintech & Digital Assets
DECEMBER 21, 2023
Credit and Underwriting Risk Borrowers may not fully understand BNPL loan repayment obligations or may take on excess credit, and creditors may be disadvantaged by the lack of credit history or BNPL activity captured by credit reporting agencies.
Stax
NOVEMBER 11, 2024
Businesses are expected to have procedures in place to promptly address and reverse erroneous ACH payments, maintaining integrity and trust in the ACH network. The EFTA outlines a set of rights and responsibilities for both the consumers and businesses involved in ACH payments.
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