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

  • DFA (Dodd-Frank Act)

    The Dodd-Frank Act was made effective in 2010 to promote financial stability in the U.S. by increasing accountability and transparency.

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  • RDFI (Receiving Depository Financial Institutions)

    A financial institution qualified by the National Automated Clearing House Association (NACHA) to receive ACH transactions.

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