See generally The Electronic Funds Transfer Act
, Regulation E, 15 U.
The PAI Secure ATM program is unique because it covers expenses and/or fines associated with ATM data breaches and sticker suits, plus provides information on how businesses can bring their locations into compliance with the Electronic Funds Transfer Act
(ATM sticker suits).
The Electronic Funds Transfer Act
and implementing regulations require both a notification on the ATM screen that a transaction would generate a fee, as well as a notification on the machine itself.
If implemented as proposed, these rules would result in the most significant change in consumer electronic payments since the enactment of Regulation E of the Electronic Funds Transfer Act
in the 1970s," said Kurt Helwig, president and CEO of the Electronic Funds Transfer Association.
As part of the Federal Reserve's recent amendment to Regulation E, the Electronic Funds Transfer Act
, consumers will be required to opt in for overdraft protection for debit and ATM transactions, beginning for new customers on July 1, 2010 and for existing customers on August 15, 2010.
New additions of content include regulations such as the Check 21 Act, the Credit Card Accountability Responsibility and Disclosure Act of 2009, the Electronic Funds Transfer Act
, the Federal Deposit Insurance Act (FDIA) and more.
His work with the Commission resulted in passage of the Electronic Funds Transfer Act
and the Monetary Control Act of 1982.
These have included the Electronic Funds Transfer Act
, the Americans with Disabilities Act, consumer protection for electronic payments, privacy, and security.