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Loanfactz Definitions
Glossary of Legal Terms, Loan Terms and Home Construction, Repair and Maintenance Definitions. Some words have more than one meaning. Only those meanings relating to this site will be used.
All of E
Electronic Fund Transfer Act of 1978
Establishes the basic rights, liabilities, and responsibilities of consumers who use electronic fund transfer services and of financial institutions that offer these services.
It covers transactions conducted at automated teller machines - also called ATM, at point of sale terminals in stores, and through telephone bill payment plans and preauthorized transfers to and from a customer's account, such as direct deposit of salary or Social Security payments.
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