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Act

Electronic Fund Transfer Act (Reg E)

EFTA establishes the rights, liabilities, and responsibilities of consumers and banks with regard to electronic fund transfers. It sets caps on interchange debit card fees and give merchants choices in routing debit card transactions. It also requires notices and creates rights for consumers who send international wire transfers (remittances).

Regulation E implements EFTA’s provisions related to consumer protections and bank responsibilities and protections and those related to remittances. Regulation II implements the provisions related to interchange fee caps and routing requirements.

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