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The EFTA Differs from the FCBA Regarding

Question 43

Multiple Choice

The EFTA differs from the FCBA regarding:


A) consumer's liability when the EFT card is stolen.
B) bank's liability if it makes unauthorized transfers.
C) the consumer's liability for unauthorized electronic funds transfers.
D) the financial institution's liability to the consumer for failure to make or stop payments. The EFT Act does differ from the Fair Credit Billing Act in a number of important respects.For example,under the EFT Act,the operators of EFT systems are given a maximum of 10 working days to investigate errors or provisionally recredit the consumer's account,whereas issuers of credit cards are given a maximum of 60 days under the FCBA.The consumer's liability if an EFT card is lost or stolen also differs from his liability if a credit card is lost or stolen.

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