Alvero tries to make a $75 withdrawal from an ATM, but the terminal has run out of cash.The bank is liable to Alvero for damages proximately caused by its failure to make the EFT.

Question

Quizplus · Accepted Answer

Under Regulation E, which implements the Electronic Fund Transfer Act, a financial institution is not liable for damages in a situation where the terminal has run out of cash. The regulation provides certain protections and requirements for electronic fund transfers, but it does not hold banks liable for not completing a transaction due to lack of cash in the machine.

Alvero Tries to Make a $75 Withdrawal from an ATM