Question

What is the purpose of the Electronic Funds Transfer Act?

a. It limits your liability if your ATM card is stolen.
b. It limits the amount of money that can be electronically transferred between two bank accounts in one day.
c. It monitors the amount of money that banks transfer electronically.
d. It charges a tax on money transferred electronically.

Answer 1

The correct answer is A: It limits your liability if your ATM card is stolen.