According to the Electronic Funds Transfer Act and Regulation E adopted by the Federal Reserve Board, a bank can send unsolicited electronic funds transfer system (EFTS) debit cards to a consumer only if the cards are not valid for use.

Question

Quizplus · Accepted Answer

The Electronic Funds Transfer Act and Regulation E prohibit the distribution of unsolicited EFTS debit cards that are valid for use unless the consumer requests or agrees to it. The cards must be inoperative until the consumer takes steps to activate them.