2014 US Code
Title 15 - Commerce and Trade (Sections 1 - 8405)
Chapter 41 - Consumer Credit Protection (Sections 1601 - 1693r)
Subchapter VI - Electronic Fund Transfers (Sections 1693 - 1693r)
Sec. 1693 - Congressional findings and declaration of purpose
| Publication Title | United States Code, 2012 Edition, Supplement 2, Title 15 - COMMERCE AND TRADE |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 15 - COMMERCE AND TRADE CHAPTER 41 - CONSUMER CREDIT PROTECTION SUBCHAPTER VI - ELECTRONIC FUND TRANSFERS Sec. 1693 - Congressional findings and declaration of purpose |
| Contains | section 1693 |
| Date | 2014 |
| Laws In Effect As Of Date | January 5, 2015 |
| Positive Law | No |
| Disposition | standard |
| Short Titles | "Electronic Fund Transfer Act", see Short Title note set out under section 1601 of this title. |
| Source Credit | Pub. L. 90-321, title IX, §902, as added Pub. L. 95-630, title XX, §2001, Nov. 10, 1978, 92 Stat. 3728; amended Pub. L. 111-203, title X, §1073(a)(1), July 21, 2010, 124 Stat. 2060. |
| Statutes at Large References | 92 Stat. 3728, 3741 123 Stat. 1751 124 Stat. 2060 |
| Public and Private Laws | Public Law 90-321, Public Law 95-630, Public Law 111-24, Public Law 111-203 |
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The Congress finds that the use of electronic systems to transfer funds provides the potential for substantial benefits to consumers. However, due to the unique characteristics of such systems, the application of existing consumer protection legislation is unclear, leaving the rights and liabilities of consumers, financial institutions, and intermediaries in electronic fund transfers undefined.
(b) PurposesIt is the purpose of this subchapter to provide a basic framework establishing the rights, liabilities, and responsibilities of participants in electronic fund and remittance transfer systems. The primary objective of this subchapter, however, is the provision of individual consumer rights.
(Pub. L. 90–321, title IX, §902, as added Pub. L. 95–630, title XX, §2001, Nov. 10, 1978, 92 Stat. 3728; amended Pub. L. 111–203, title X, §1073(a)(1), July 21, 2010, 124 Stat. 2060.)
AMENDMENTS2010—Subsec. (b). Pub. L. 111–203 inserted "and remittance" after "electronic fund".
EFFECTIVE DATE OF 2010 AMENDMENTAmendment by Pub. L. 111–203 effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111–203, set out as an Effective Date note under section 5301 of Title 12, Banks and Banking.
EFFECTIVE DATEPub. L. 90–321, title IX, §923, formerly §921, as added by Pub. L. 95–630, title XX, §2001, Nov. 10, 1978, 92 Stat. 3741, renumbered §922, Pub. L. 111–24, title IV, §401(1), May 22, 2009, 123 Stat. 1751; renumbered §923, Pub. L. 111–203, title X, §1073(a)(3), July 21, 2010, 124 Stat. 2060, provided that: "This title [enacting this subchapter] takes effect upon the expiration of eighteen months from the date of its enactment [Nov. 10, 1978], except that sections 909 and 911 [sections 1693g, 1693i of this title] take effect upon the expiration of ninety days after the date of enactment."
[Pub. L. 111–203, §1073(a)(3), which directed renumbering of section 922 of Pub. L. 90–321 as section 923 effective 1 day after July 21, 2010, was executed after the renumbering of section 921 of Pub. L. 90–321 as section 922 by Pub. L. 111–24, §401(1), effective 15 months after May 22, 2009, to reflect the probable intent of Congress.]
SHORT TITLEThis subchapter known as the "Electronic Fund Transfer Act", see Short Title note set out under section 1601 of this title.
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