Program Description:
Electronic transactions first became widely available in
the 1970s. Soon after, the Electronic Funds Transfer
Act (EFTA)was enacted to protect consumers from
errors and fraud that could occur in these
transactions. This AIB course covers the requirements
of the Act that apply to customer contact personnel.
After successfully completing this course, the student will be able to:
- Explain the background of the EFTA
- Describe the purpose of the EFTA
- Describe requirements regarding issuance of access devices
- Explain the requirements related to preauthorized transfers
- Define an electronic fund transfer
- Describe how to handle a notice of error
Who Should Attend:
All levels of employees.
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