EFTA (Electronic Fund Transfer Act)

The Electronic Fund Transfer Act establishes the rights and liabilities of consumers in addition to the responsibilities of anyone who participates in electronic funds transfers.

Related Terms

  • Contact-Free Payment

    Contact-free payments are transactions processed in a manner that removes the physical interaction between the purchaser and the merchant.  A contract-free payment can be accomplished through a...

    Learn More

  • OFAC (Office of Foreign Asset Control)

    The part of the US Treasury Department responsible for enforcing United States economic and trade sanctions.

    Learn More