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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.
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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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TEL (Telephone Initiated Entries)
A standard entry class code that enables the originator to initiate a single entry debit to a consumer’s account pursuant to a consumer’s oral authorization obtained over...
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