Funds Transfer Act
/ˈfʌndz ˈtrænsfər ækt/
Definitions
- (n.) A federal law regulating electronic funds transfers to protect consumers.
The Funds Transfer Act requires disclosure of terms in electronic payments.
Forms
- funds transfer act
Related terms
See also
Commentary
Often used synonymously with the Electronic Funds Transfer Act (EFTA), but can denote various statutes in funds transfer regulation; clarify jurisdiction when drafting.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.