Electronic
Fund Transfer Act
Statute: 15
USC § 1693 et seq.
Regulation: 12
CFR 205 (Reg. E) .
Regulation Commentary: Coming
soon.
EFTA Purpose: Congress enacted
the Electronic Fund Transfer Act (EFTA) in 1978
to provide a basic framework establishing the
rights, liabilities and responsibilities of
participants in electronic fund transfer systems.
The act contains provisions with which the mortgage
lending industry must be familiar.
