The Electronic Fund Transfer Act:
A) makes financial institutions liable to the consumer for damages caused by its failure to make an electronic transfer of funds
B) limits liability of the erring financial institution to actual damages proved
C) limits liability of an erring financial institution to the lesser of $500 or the amount of the incorrect transfer
D) makes financial institutions liable to the consumer for damages caused by its failure to make an electronic transfer of funds and limits liability of the erring financial institution to actual damages proved
E) makes financial institutions liable to the consumer for damages caused by its failure to make an electronic transfer of funds and limits liability of an erring financial institution to the lesser of $500 or the amount of the incorrect transfer
Correct Answer:
Verified
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