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

  • DFI (Development Finance Institution)

    A development finance institution (DFI) is an alternative type of financial institution that provides credit via loans, equity and more.

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  • MTE (Machine Transfer Entry)

    An entry initiated at an electronic terminal, such as an automated teller machine (ATM). This entry can either be a debit or a credit.

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