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Author Zaki, Ahmed S.
Source ACM Digital Library
Content type Text
Publisher Association for Computing Machinery (ACM)
File Format PDF
Language English
Subject Keyword Float ♦ Privacy ♦ Branch terminal ♦ Eft act ♦ Antitrust ♦ Electronic funds transfer (eft) ♦ Legal aspects ♦ Shared eft systems
Abstract This paper investigates the implications and impact of current legislation on the future of the electronic funds transfer systems (EFT). The relevant statutes are introduced and analyzed. Problem areas are discussed together with examples of court rulings. The investigation reveals that the regulations do not provide enough safeguards for the consumer and do not clear up the ambiguities from a combination of competing laws, regulations, and conflicting jurisdictions. Legislators, on both the national and state level, and federal and state governments need to cooperate more closely to produce uniform legislation that specifically addresses the current problems in an EFT environment. Courts need to realize the legislature's intent and the benefits that can be gained before ruling on the current issues.
Description Affiliation: Simon Fraser Univ., Burnaby, B.C., Canada (Zaki, Ahmed S.)
Age Range 18 to 22 years ♦ above 22 year
Educational Use Research
Education Level UG and PG
Learning Resource Type Article
Publisher Date 2005-08-01
Publisher Place New York
Journal Communications of the ACM (CACM)
Volume Number 26
Issue Number 2
Page Count 7
Starting Page 112
Ending Page 118


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Source: ACM Digital Library