Electronic Fund Transfer Consumer Protection Act: Hearings Before the Subcommittee on Conusmer Affairs of the Committee on Banking, Housing, and Urban Affairs, United States Senate, Ninety-fifth Congress, First Session, on S. 2065 ... October 3, 4, and 5, 1977 |
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Results 1-5 of 88
Page 9
... result in people losing control over their personal financial transactions . It should not be surprising , therefore , that consumers - particularly those with no personal EFT experience - are resisting EFT systems because of the simple ...
... result in people losing control over their personal financial transactions . It should not be surprising , therefore , that consumers - particularly those with no personal EFT experience - are resisting EFT systems because of the simple ...
Page 23
... result in people losing some control over their personal financial transactions . " ... 64 % believe " when it comes to money matter , I'd prefer dealing with people not computers . It is probable that more non - users than users agree ...
... result in people losing some control over their personal financial transactions . " ... 64 % believe " when it comes to money matter , I'd prefer dealing with people not computers . It is probable that more non - users than users agree ...
Page 31
... result in people losing some control over their personal financial transactions . 133 73 14 When it comes to money matters , I'd prefer dealing with people , not computers 64 20 11 With full electronic banking my money will be as safe ...
... result in people losing some control over their personal financial transactions . 133 73 14 When it comes to money matters , I'd prefer dealing with people , not computers 64 20 11 With full electronic banking my money will be as safe ...
Page 36
... result to the consumer , and I particularly want to commend the chairman for holding these hearings and I look forward to very informative intercourse with the various witnesses . Thank you , Mr. Chairman . Senator RIEGLE . Thank you ...
... result to the consumer , and I particularly want to commend the chairman for holding these hearings and I look forward to very informative intercourse with the various witnesses . Thank you , Mr. Chairman . Senator RIEGLE . Thank you ...
Page 39
... resulting from the failure of any person to comply with the provisions of this act . CFA urges that criminal sanctions be specifically imposed for unauthorized use , and that the $ 5,000 fine be raised to at least $ 15,000 so as to ...
... resulting from the failure of any person to comply with the provisions of this act . CFA urges that criminal sanctions be specifically imposed for unauthorized use , and that the $ 5,000 fine be raised to at least $ 15,000 so as to ...
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Common terms and phrases
acceptance authorization Automated Clearing House automated teller machines bank bankers believe benefit Board business days card issuer cash Chairman committee concerns Consumer Affairs Consumer Credit consumer liability consumer rights consumer's account cost credit card debit card deposit account depository institution disclosure documentation effect EFT account EFT card EFT services EFT systems EFT transactions electronic fund transfer error resolution Fair Credit Billing Federal financial institutions GOLDFARB identification number involved issue legislation liability for unauthorized limit loss marketplace ment merchant National Commission notify operating payment system person personal identification point of sale point-of-sale preauthorized transfers problems procedures purchase question receipt recommend regulations response retailers reversibility Section 809 Senator PROXMIRE Senator RIEGLE Senator SCHMITT specific standards statement stop payment Subcommittee substantial sumer terminals testimony third party tion unauthorized electronic fund unauthorized transfers Uniform Commercial Code unsolicited Wisconsin
Popular passages
Page 71 - A creditor may not be held liable in any action brought under this section for a violation of this chapter if the creditor shows by a preponderance of evidence that the violation was not intentional and resulted from a bona fide error notwithstanding the maintenance of procedures reasonably adapted to avoid any such error.
Page 96 - BROOKE) introduced the following bill, which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To amend the Truth in Lending Act to protect consumers against careless and unfair billing practices, and for other purposes.
Page 62 - Consumers Union is a nonprofit membership organization chartered in 1936 under the laws of the State of New York to provide information, education and counsel about consumer goods and services and the management of family income. Consumers Union's income is derived solely from the sale of Consumer Reports, its other publications and films. Expenses of occasional public service efforts may be met, in part, by nonrestrictive, noncommercial contributions, grants and fees.
Page 203 - ... security of deposits, stop payment services, and proof of payment (as discussed in subsequent recommendations) Advantages and Disadvantages of the Open Entry Approach The primary benefit of the open entry approach from the consumer's point of view is the possible price advantage that might result. EFT is expected to provide cost reductions to financial institutions, which would be passed on to the consumer in the form of increased returns on deposits and possibly lower charges on loans. (For...
Page 273 - Conduct a thorough study and Investigation and recommend appropriate administrative action and legislation necessary in connection with the possible development of public or private electronic fund transfer systems, taking Into account, among other thlngs-- 1.
Page 41 - Inadvertent error means a mechanical, electronic, or clerical error that a creditor demonstrates was not intentional and occurred notwithstanding the maintenance of procedures reasonably adapted to avoid any such error.
Page 116 - ... the Federal Trade Commission Act are available to the Commission to enforce compliance by any person with this title, irrespective of whether that person is engaged in commerce or meets any other jurisdictional tests in the Federal Trade Commission Act...
Page 46 - It is intended to replace separate statutes in twenty-nine states which regulate stop-payment orders. 2. The position taken by this section is that stopping payment is a service which depositors expect and are entitled to receive from banks notwithstanding its difficulty, inconvenience and expense. The inevitable occasional losses through failure to stop should be borne by the banks as a cost of the business of banking.
Page 1 - AUGUST 5, 1987 US SENATE, COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS, SUBCOMMITTEE ON CONSUMER AFFAIRS, Washington, DC. The subcommittee met at...
Page 41 - ... from the transferor or his agent in writing. For the purposes of this section, delivery to either husband or wife shall be deemed delivery to a transferee, unless the contract affecting the transfer states otherwise. (d) No transfer of title of real property shall be invalidated solely because of the failure of any person to comply with the provisions of this section unless such failure is an act or omission which would be a valid ground for rescission of such transfer in the absence of this...