A financial institution (such as a bank) that issues electronic fund-transfer cards must provide consumers:
A) a yearly statement of account
B) a weekly statement of account
C) a monthly statement of account
D) a bi-annual statement of account
E) the institution is under no obligation to provide consumers with statements of account

Question

Quizplus · Accepted Answer

According to the Electronic Fund Transfer Act (EFTA), a financial institution that issues an electronic fund transfer card must provide consumers with a monthly statement of account, unless the consumer has not used the card during that month. Therefore, option C is the best choice.

A Financial Institution (Such as a Bank) That Issues Electronic