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ACCESS DEVICES
see also
ATM cards, 1.1.3
see also DEBIT CARDS
BSC cards, 9.7
debit cards, see DEBIT CARDS
defined, 5.2.1.1
Direct Express card, see DIRECT EXPRESS CARD
EBT payments, see ELECTRONIC BENEFITS TRANSFER (EBT) CARDS
ECC status, 5.2.1.2
EFTA disclosures, 5.2.3
electronic information, see ELECTRONIC RECORDS
government benefits, see GOVERNMENT-ISSUED PREPAID CARDS
issuance
consumer request, 5.2.2.2
electronic disclosures, 5.2.6
initial disclosures, 5.2.3
subsequent disclosures, 5.2.4
unsolicited issuance, 5.2.2.1
lost or stolen
prepaid cards, 7.2.12
reporting, 5.4.4.2, 5.4.4.3
“zero liability” policies, 5.4.8, 7.2.12
multi-function cards, see MULTI-FUNCTION CARDS
PIC security standards, 5.4.7
PINs, see PERSONAL IDENTIFICATION NUMBERS (PINs)
POS transactions, see DEBIT CARDS; CREDIT CARDS; PREPAID CARDS; SMART CARDS
prepaid cards, see PREPAID CARDS
replacement devices, 5.2.2.4
smart cards, see SMART CARDS
stored value, see STORED VALUE SYSTEMS
types, 5.2.1
unauthorized use, consumer liability, 5.4.4–5.4.8
wage payments
cash-dispensing machines, 4.10.2.2
payroll cards, see PAYROLL CARDS
ACCORD AND SATISFACTION
payment by check, UCC rules, 3.11, 4.9.1
ACCOUNT AGGREGATION SERVICES
banks, relationships with, 5.14.2.7
checklist, 1.2.2
cross-marketing, 5.14.4
data collection, 5.14.1.3
disclaimers, 5.14.2.6, 5.14.3.5
disclosures on bank websites, re-publishing, 5.14.6
“drag and drop,” 5.14.1.4
EFTA, application, 5.14.2.3.1
entities involved, 5.14.1.2
error resolution, 5.14.3
disclaimers, 5.14.3.5
FCBA, 5.14.3.3
Regulation E, 5.14.3.2
timing errors, 5.14.3.4
types of errors, 5.14.3.1
fees, 5.14.5
disclosure in contract, 5.14.5.1
TISA requirements, 5.14.5.2
mobile wallets, 5.14
overview, 5.14.1
privacy issues, 5.14.4
FCRA application, 5.14.4.2
Gramm-Leach-Bliley application, 5.14.4.1
“screen scraping,” 5.14.1.3
blocking technology, 5.14.2.8
security breaches, 5.14.2.5
security procedures, 5.14.2.2
BITS guidelines, 5.14.2.5
services offered, 5.14.1.4
unauthorized use, 5.14.2
credit card accounts, 5.14.2.4
disclaimer of liability, 5.14.2.6
EFTA protections, 5.14.2.3
liability for, 5.14.2.3.2, 5.14.2.5–5.14.2.8
limited regulation, 5.14.2.2
nature of problem, 5.14.2.1
ACCOUNTS
see BANK ACCOUNTS; PREPAID CARDS
ACCOUNTS RECEIVABLE ENTRIES (ARCs)
see also
bank warranties, 5.11.3.2
described, 5.1.5.3, 5.1.5.4
drop-box ARCs, 5.1.5.4
lock-box ARCs, 5.1.5.4
NACHA rules, 5.11.2.1
POP distinguished, 5.1.5.4
ACH (AUTOMATED CLEARING HOUSE) SYSTEM
see also NATIONAL AUTOMATED CLEARINGHOUSE ASSOCIATION (NACHA)
authorization requirements, 5.3.1, 5.3.1.2
payday loans, 5.3.8
re-presentment of returned debits, 5.3.5
return fees, 5.3.6.2
checks, 3.8.2
data breach, notification, 5.4.11
described, 1.1.3, 5.1.5.2
ECCs, 5.11.2
EFTs, 5.1.5
electronic signatures and records, 5.1.5.6
federal use of, Appx. H.2
NACHA Rules, 1.3.3, 5.1.5.1
operation of system, 5.1.5.2
ordinary care, 3.10.1.4
parties involved, 5.1.5.2
RCKs, 5.1.5.5, 5.3.5, 5.12
stop payments, 3.7.2.4, 5.3.7
subsequent transfers, 5.3.8
terminology, 5.1.5.3
types of entries, 5.1.5.3
ECCs, 5.1.5.4
unauthorized entries, 5.4.2.2, 5.3.1.1–5.3.1.3
ACTIONS
ADA claims, 8.9.2.3
banks, against
EFAA violations, 4.5.10
RCCs, 3.13.4
substitute checks, involving, 3.12.6
wrongful setoff, 10.2.9
Check 21 Act, under, 3.12.6.2
check-cashing violations, 4.10.2.4
conversion actions, see CONVERSION ACTIONS
damages, see DAMAGES
EBT disputes, 8.2.5
EFAA, 4.5.10
EFTA, 5.15
limitations, see STATUTE OF LIMITATIONS
NACHA rule violations, 5.15.6
RCCs, unauthorized, 3.13.4
TISA, 2.4.6
UDAP, see UNFAIR OR DECEPTIVE ACTS AND PRACTICES (UDAP)
ADVERTISEMENTS
deposit accounts, 2.4.3
AGENTS
authorized signatures, 3.6.3.1, 4.4.3.5.2
ALTERATION OF CHECKS
bank statement rule, 3.10.1
defined, 3.6.4.2, 3.7.2.10
evading stop payments, 3.3.6, 3.7.2.4
liability, 3.6.4.2, 3.7.2.10, 3.10.1
negligence rule, 3.10.2
ratification, 3.10.4
reporting requirements, 3.10.1
AMERICANS WITH DISABILITY ACT (ADA)
ATM guidelines, 8.9.2.2
EBT applicability, 8.9.2.1
private litigation, 8.9.2.3
ARCs
see ACCOUNTS RECEIVABLE ENTRIES (ARCs); ELECTRONIC CHECK CONVERSION (ECC)
ATM FEES
see also AUTOMATED TELLER MACHINES (ATMs)
Direct Express cards, 9.6.2.3
disclosures, 5.10.1
federal law, 5.10.1.1
EBT access, 8.6.2.2, 8.6.3
QUEST guidelines, 8.2.2.1
ETAs, 9.5.5
overdrafts, 5.7.2.2
notice of program, 5.7.2.3
prepaid cards, 7.2.3.2.4, 7.2.7.3
ATTACHMENT
see GARNISHMENT
AUTOMATED CLEARING HOUSE (ACH)
see ACH (AUTOMATED CLEARING HOUSE) SYSTEM
AUTOMATED RESPONSE UNITS (ARUs)
EBTs
deaf and speech-impaired recipients, 8.9.5.2
non-English speaking recipients, 8.9.10
PIN selection, 8.3.3.3
training method, 8.4.4
AUTOMATED TELLER MACHINES (ATMs)
see also
access devices
see also ACCESS DEVICES
ATM card, 1.1.3
debit card, see DEBIT CARDS
Direct Express cards, 9.6.2.3
EBT card, 8.5.2.1
accessibility, 8.9.2
blind persons, 8.9.4.3.2
checklist, 1.2.2
declined transactions, 2.6.4
deposits at, funds availability, 4.5.4.1, 4.5.8
disclosure requirements, 4.5.8.2
time of deposit, 4.5.8.2
described, 1.1.3
Direct Express cards, use, 9.6.2.3
EBT access, 8.5.2
fees, 8.6.2.2, 8.6.3
EFTA, application, 5.1.3.8.1
errors, 5.10.3
common law approaches, 5.10.3.3
EFTA procedures, 5.10.3.2
overview, 5.10.3.1
ETA withdrawals, 9.5.5
fees, see ATM FEES
non-proprietary ATMs, 4.5.8.1
overdrafts, consumer opt-in, 5.7.2.2
coerced opt-ins, 5.7.2.4
procedure, 5.7.2.3
personal security, 8.7.2
PINs, see PERSONAL IDENTIFICATION NUMBERS (PINs)
proprietary ATMs, 4.5.8.1
receipts, 5.10.2
content of receipt, 5.10.2.4
errors, 5.10.3
failure to provide, 5.10.2.3
generally, 5.10.2.1
promotional materials, 5.10.2.2
“speech enabled” ATMs, 8.9.4.3.2
talking ATMs, 8.9.4.3.3
transfers through, see ELECTRONIC FUND TRANSFERS (EFTs)
AUTOMATIC PAYMENT PLANS
see also PREAUTHORIZED ELECTRONIC FUND TRANSFERS
credit card debts, 10.2.2.1
AVAILABILITY OF FUNDS
see FUNDS AVAILABILITY
BACK OFFICE CONVERSION ENTRIES (BOCs)
see also
bank warranties, 5.11.3.3
described, 5.1.5.4
NACHA rules, 5.11.2.2
BAD CHECKS
see NOT SUFFICIENT FUNDS (NSF)
BANK ACCOUNTS
see also
access devices, see ACCESS DEVICES
account aggregation, see ACCOUNT AGGREGATION SERVICES
automatic transfers between, EFTA application, 5.1.3.7
availability of funds, see FUNDS AVAILABILITY
balance, determination, 3.8.4.4, 3.8.4.5
bank’s right of setoff, see BANKER’S SETOFF
barriers to opening, 2.2
checks, see PERSONAL CHECKS
closing, 2.7
see also CLOSED ACCOUNTS
checks paid after, 3.9.1
checks presented after, 3.3.4.1, 3.7.2.5
fees, 2.6.5
laws governing, 2.7.2
overview, 2.7.1
repeat garnishments, 9.8.10
right to close, 2.7.2, 3.3.4.1
commingled funds, 9.8.8, 10.2.7.2, 10.2.8.3
death or incompetence of depositor, 3.7.2.6
debit card holds, 4.5.11, 5.9.2
defined, 4.5.2, 5.1.3.1
deposit advance products, 7.2.15.4
deposit holds, 5.6.1
direct deposits, see DIRECT DEPOSITS
disclosures, 2.4
account opening, 2.4.2
advertisements, 2.4.3
delivery, 2.4.2.1
fees, 2.4.2.3, 2.4.3, 2.4.4
interest rates, 2.4.2.2
minimum balance requirements, 2.4.2.4
periodic statements, 2.4.4
EFAA, application, 4.5.2
EFTA, application, 5.1.3.1
electronic fund transfers, see ELECTRONIC FUND TRANSFERS (EFTs)
ETA accounts, see ELECTRONIC TRANSFER ACCOUNTS (ETAs)
FDIC coverage, 7.2.1.4.1
fees, see BANK FEES
freezes, 4.5.11
bankruptcy filing, 10.2.2.2
checks bounced during, 3.7.3
credit card debts, 10.2.2.1
federal benefits, restrictions, 9.8
temporary freezes, 9.8.7
garnishment, see GARNISHMENT
government benefits, specific account not mandatory, 5.2.2.3, 5.3.11, 5.6.3, 7.4.2.2
involuntary payments from, 10
bank setoffs, see BANKER’S SETOFF
commingled funds, 10.2.7.2, 10.2.8.3
consumer protections, 9.8, 10.2.8, Appx. H.3
garnishment, see GARNISHMENT
overview, 10.1
security interests, see SECURITY INTERESTS
joint accounts, see JOINT ACCOUNTS
national banks, 1.4.3
new accounts, 4.5.7.1
opening disclosures, 2.4.2
payroll deposits, specific account not mandatory, 5.2.2.3, 5.3.11, 5.6.3, 7.3.2
preacquired account telemarketing, 5.3.2.3.3
preauthorized drafts, see REMOTELY CREATED CHECKS (RCCs)
preauthorized electronic transfers, see PREAUTHORIZED ELECTRONIC FUND TRANSFERS
re-crediting for improper checks, 3.9.1, 3.10.1.1
savings accounts, see DEPOSIT ACCOUNTS
“second chance” accounts, 2.2
security interests in, see SECURITY INTERESTS
statements, see BANK STATEMENTS
transaction account, defined, 4.5.2
TISA, application, 2.1
transfers from, checklist, 1.2.2
BANK CARDS
see also BANK ACCOUNTS
ATM cards, 1.1.3
see also ACCESS CARDS
credit cards, see CREDIT CARDS
debit cards, see DEBIT CARDS
BANK CHECKS
cashier’s checks, see CASHIER’S CHECKS
ordinary checks, see PERSONAL CHECKS
teller’s checks, see TELLER’S CHECKS
BANK DRAFTS
see TELLER’S CHECKS
BANK FEES
account closing fees, 2.6.5
ATM fees, see ATM FEES
authorization to charge, 2.6.1
cancelled checks
return of check, 2.6.5
substitute checks, 3.7.4
change to fees, 2.6.2
disclosure requirements, 2.4.2.3, 2.6.2
check cashing, 3.7.3, 4.6.4, 4.10.2.3
“at par” statutes, 4.6.4.1
paychecks, 4.6.4.2
disclosure requirements
advertisements, 2.4.3
change in fees, 2.4.2.3, 2.6.2
initial account schedule, 2.4.2.3
overdraft loans, 2.6.3.3
periodic statements, 2.4.4
EBT cash benefits, 8.6.2.2, 8.6.3
electronic fund transfers, 5.7
error investigations, 2.6.5, 5.5.3
generally, 5.7.1
overdrafts, 5.7.2
funds availability, 4.5.4.1
expedited availability, 2.6.5
garnishment fees, 9.8.17
interchange fees, see INTERCHANGE FEES
“maintenance or activity” fees, 2.4.3
national banks, 1.4.4, 1.4.7
NSF checks, see NSF FEES
“on us” checks, 4.6.4
“at par” statutes, 4.6.4.1
generally, 4.6.4.1
paychecks, 4.6.4.2
other fees, 2.6.5
overdraft loans, see OVERDRAFT LOAN FEES
prepaid cards, 7.2.7
regulation of, generally, 2.6.1
statement fees, 2.6.5
stop payment fees, 2.6.5
BANK STATEMENTS
bank statement rule, 3.10.1
bank’s duty, 3.10.1.2, 3.10.1.4
customer’s duty, 3.10.1.3, 3.10.1.6
issue preclusion, 3.10.1.5
other inaccuracies, 3.10.1.6
overview, 3.10.1.1
cancelled checks
access, 3.7.4, 3.10.1.2
examining, 3.10.1.3, 3.10.1.6
substitute checks, 3.8.2
checking accounts, 3.10.1.1
deposit accounts, 2.4.4
disclosure of fees
combined disclosures, 2.4.4
overdraft fees, 2.6.3.3
periodic statements, on, 2.4.4
electronic fund transfers, 2.4.4, 5.2.5
ECCs, 5.1.3.8.2
RCKs, 5.12.5
unauthorized transfers, reporting, 5.4.5, 5.4.6
open-end credit, 2.4.4
regulation of statement fees, 2.6.5
requirement to provide, 2.4.4, 3.10.1.1, 5.2.5
BANKER’S LIEN
banker’s setoff distinguished, 10.2.1.1
BANKER’S SETOFF
avoiding by consumer, 10.2.1.2
banker’s lien distinguished, 10.2.1.1
bankruptcy filing, effect, 10.2.2.2
checklist, 1.2.2
collateral, selling as precondition, 10.2.4
commingled funds, 10.2.7.2, 10.2.8.3
credit card debts, restrictions, 10.2.2.1
due process considerations, 10.2.1.1
ETA accounts, 9.5.7, 10.2.2.3
exempt funds, 9.8.17, 10.2.8
federal limits, 10.2.2
joint accounts, 10.2.7.3
matured debts, 10.2.6.2
mutual debts, 10.2.6.1
notice, 10.2.5
right to, 10.2.1.1, 10.2.6, 10.2.7, 10.2.8.4
secondary debts, 10.2.6.3
security interest alternative, see SECURITY INTERESTS
security interests, effect, 10.2.2.1, 10.2.2.2
Social Security and SSI benefits, 10.2.8.5, 10.2.8.6
special purpose accounts, 10.2.2.3, 10.2.7.2
state law limitations, 10.2.3
third party accounts, 10.2.7.1
third party debts, 10.2.6.1
Treasury rule, application, 10.2.8.6
type of accounts, 10.2.7
type of debts, 10.2.6
type of setoff, 10.2.1
wrongful setoff, remedies, 10.2.9
BANKING
see also BANKS; PAYMENT SYSTEMS
alternatives
cashier’s checks, 6.3
money orders, see 6.2
remittances, 6.5, 6.6
teller’s checks, 6.3
traveler’s checks, 6.4
banking day, 5.4.3
federal preemption of state law, see FEDERAL PREEMPTION
Internet banking, see INTERNET BANKING
mobile banking, see MOBILE BANKING
telephone banking, see TELEPHONE BANKING
“unbanked” households, 6.1
“underbanked” households, 6.1
BANKING INDUSTRY TECHNOLOGY SECRETARIAT (BITS)
account aggregation
privacy guidelines, 5.14.4.1
security guidelines, 5.14.2.5
BANKING REGULATORS
see FEDERAL BANKING REGULATORS
BANKRUPTCY STAY
see also INSOLVENCY
bank setoff, effect, 10.2.2.2
BANKS
see also BANKING; ; FINANCIAL INSTITUTIONS
account aggregation, see ACCOUNT AGGREGATION SERVICES
accounts, see BANK ACCOUNTS
ATMs, see AUTOMATED TELLER MACHINES (ATMs)
anti-fraud measures, 5.3.9
bank cards, see BANK CARDS
bank checks
cashier’s checks, see CASHIER’S CHECKS
teller’s checks, see TELLER’S CHECKS
bank drafts, see TELLER’S CHECKS
bank money orders, see under MONEY ORDERS
banking day, defined, 4.5.3
business day, defined, 4.5.3, 5.4.4.2
cashier’s checks, see CASHIER’S CHECKS
credit cards, see CREDIT CARDS
customer relationship, 2.3, 3.7
check writing aspect, 3.7.1
fiduciary duty, 2.3.1
funds availability, 4.5.9
good faith duty, 2.3.2, 3.4.3, 3.10.1.4
ordinary care, 2.3.2, 3.4.3, 3.10.1.4, 3.10.2
privacy policy, 4.10.3
properly payable checks, 3.7.2
wrongful dishonor, 3.7.3
data breach notification, 5.4.11
deposits, see DEPOSIT ACCOUNTS
EFAA, application, 4.5.2
electronic fund transfers, see ELECTRONIC FUND TRANSFERS (EFTs)
ETA accounts, see ELECTRONIC TRANSFER ACCOUNTS (ETAs)
FDIC coverage, 7.2.14.2
money orders, see under MONEY ORDERS
NACHA investigations, 5.3.9
national banks, see NATIONAL BANKS
negligence, 3.4.5
OCC bulletin on payment processors, Appx. D.2
payday loans, 7.2.15.4
personal checks
chargeback rights, 4.7.2
final payment, 3.8.4
“midnight deadline,” 3.8.4.1
obligations, 3.4.3, 3.7
ordinary care, 3.10.1.4, 3.10.2
properly payable rule, 3.7.2
wrongful dishonor, 3.7.3
service fees, see BANK FEES
setoff rights, see BANKER’S SETOFF
statements, see BANK STATEMENTS
subrogation, 3.9.1
teller’s checks, see TELLER’S CHECKS
UCC application, 1.3.1
good faith and ordinary care, 2.3.2, 3.4.3
variation by agreement, 3.4.4
warranties
ECCs, 5.11.3
RCKs, 5.12.4
substitute checks, 3.12.6.3
BEARER PAPER
see also CHECKS
determining status, 4.4.1
importance, 4.4.1.1
issuance, at, 4.4.1.2
lost or stolen, when, 4.4.1.3
rights if lost or stolen, 4.4.2
enforcement against drawer, 4.4.3.4
transfer of title, 3.5.2.1, 3.5.2.2
warranties, 4.7.4
BENEFIT SECURITY CARDS (BSCs)
see also ELECTRONIC BENEFITS TRANSFER (EBT) CARDS
combined federal and state benefits, 9.7
EFTA, application, 9.7
BILL PAYMENT SERVICES
see ACCOUNT AGGREGATION SERVICES
BILLING ERRORS
see ERRORS
BIOMETRICS
future form of electronic signature, 11.7.2
potential authentication device, 11.7.4.5
BITS
see BANKING INDUSTRY TECHNOLOGY SECRETARIAT (BITS)
BLIND PERSONS
see also DISABLED AND SPECIAL-NEEDS PERSONS
EBT access, 8.9.4
BLOCKING
debit card holds, 5.9.2
screen scraping, technology to, 5.14.2.8
BOCs
see BACK OFFICE CONVERSION ENTRIES (BOCs)
BONDING
money transmitters, 6.6.3.2
BOUNCE PROTECTION PROGRAMS
see also
described, 2.6.3.2
disclosures, 2.6.3.3, 2.6.3.4
BOUNCED CHECKS
see DISHONOR OF CHECKS; NOT SUFFICIENT FUNDS (NSF)
BURDEN OF PROOF
electronic delivery, 11.6.3.3
electronic records, 11.3.6.1
electronic signatures, 11.7.4.6
holder-in-due-course status, 3.5.6
signature forgery, 3.6.3.1
stop payments, proper order, 3.7.2.4
CARD NETWORKS
credit cards, see CREDIT CARDS
interchange fees, see INTERCHANGE FEES
security standards, 5.4.7
stored value cards, 7.1
payroll cards, 7.3.1, see also PAYROLL CARDS
prepaid cards, 7.2.1, see also PREPAID CARDS
“zero liability” policies, 5.4.8, 7.2.12
CASE LAW
preemption regarding deposit accounts and payments, 1.4.7
other practices, 1.4.7.3
overdraft and NSF fees, 1.4.7.2, 1.4.7.2.1, 1.4.7.2.4, 1.4.7.2.5
overview, 1.4.7.1
CASH
cashier’s check equivalent to, 6.3.5
deposits, funds availability, 4.5.4.1
discounts for payment by, 5.9.3.1
gift cards, relationship, 7.7.8.1
machines, see AUTOMATED TELLER MACHINES (ATMs)
CASH CARDS
see PREPAID CARDS; STORED VALUE SYSTEMS
CASH-DISPENSING MACHINES
see AUTOMATED TELLER MACHINES (ATMs)
CASHIER’S CHECKS
see also TELLER’S CHECKS
availability of funds, 4.5.4.1
bank money orders treated as, 6.2.2, 6.2.4.3
checklist, 1.2.3
debts, payment by, 6.3.6
described, 6.3.1
forgery of payee’s name, 6.3.4
lost or stolen, 6.3.5
obligation of drawee to pay, 6.3.2
scams, 6.3.7
stop payments, 6.3.3
CELL PHONE MONEY TRANSFERS
see ACCESS DEVICES; MOBILE PAYMENTS
CERTIFIED CHECKS
see also
acceptor’s obligations, 3.6.6
availability of funds, 4.5.4.1
discharge of obligations by, 3.6.1, 3.6.4.1
scams, 3.3.7
stop payments, 3.7.2.4
CHARGEBACKS
debit cards, 5.5.1.2
NSF checks, 4.7.2
prepaid cards, 7.2.12
unauthorized EFTs, 5.4.1
CHARGES
see FEES
CHECK 21 TRANSACTIONS
see also CHECK CLEARING FOR THE 21ST CENTURY ACT (CHECK 21 ACT)
automated check collection, described, 3.8.2.2
consumer awareness notice, 3.12.4
disadvantages of system, 3.12.1.2
ECC distinguished, 3.4.1
electronic check images, see ELECTRONIC CHECK IMAGES
expedited re-credit, see EXPEDITED RE-CREDITS
Federal Reserve Bank Circular 3, Appx. C.4, Appx. C.5
liability, 3.12.6.4, 3.12.6.5, 3.12.6.6
comparative negligence, 3.12.6.7
overview, 3.12.1.1
remedies
additional remedies, 3.12.5.8
damages, 3.12.6.2, 3.12.6.4, 3.12.6.5
expedited re-credits, 3.12.5
private remedies, 3.12.6
“remote deposit capture,” 3.12.2
substitute checks, see SUBSTITUTE CHECKS
truncation of checks, 3.8.2.2, 3.12.1.1
warranties, 3.12.6.3
breach of warranty, 3.12.6.2, 3.12.6.4, 3.12.6.6
duplicate payment, 3.12.6.3.3
generally, 3.12.6.3.1
legal equivalency, 3.12.6.3.2
CHECK-CASHING SERVICES
ATMs, see AUTOMATED TELLER MACHINES (ATMs)
banks, see BANKS
ETA prohibition, 9.5.1
federal regulation, 4.10.3
fees, 4.10.2.3
holder-in-due-course status, 3.5.3.4
overview, 4.10.1
payday loans, see PAYDAY LOANS
privacy requirements, 4.10.3
state regulation, 4.10.2.1
scope of regulation, 4.10.2.1
substantive requirements, 4.10.2.3
types of regulation, 4.10.2.1
CHECK CLEARING FOR THE 21ST CENTURY ACT (CHECK 21 ACT)
see also CHECK 21 TRANSACTIONS
application, 3.12.1.1
described, 1.1.3
effective date, 3.8.2.2, 3.12.1.1
expedited re-credit, 3.12.5
FRB model notices, 3.12.4, 3.12.5.7
implications for consumers, 3.12.1.2
liability under, 3.12.6.4
overview, 3.12.1.1
purpose, 3.8.2.2, 3.12.1.2
preemption of other laws, 3.12.6.8
statute of limitations, 3.12.6.2
substitute checks, 3.12.3
authorization, 3.12.3.1
consumer awareness notice, 3.12.4
legal status, 3.12.3.3
private remedies, 3.12.6
qualifying checks, 3.12.3.2
reinvestigations, 3.12.5
text, Appx. C.1
violation, 3.12.6.6
warranties, 3.12.6.3
breach of warranty, 3.12.6.2, 3.12.6.4, 3.12.6.6
duplicate payment, 3.12.6.3.3
legal equivalency, 3.12.6.3.2
CHECKING ACCOUNTS
see BANK ACCOUNTS; PERSONAL CHECKS
CHECKLISTS
see also PRACTICE AIDS
other payments by consumers, 1.2.3
payments to consumer, 1.2.4
transfers out of consumer account, 1.2.2
common check problems, 3.3
remotely created checks, 3.3.2, 3.13.4
CHECKS
see also ; ITEMS; NEGOTIABLE INSTRUMENTS
alteration, see ALTERATION OF CHECKS
automated clearing, see ACH (AUTOMATED CLEARING HOUSE) SYSTEM
bank checks
cashier’s checks, see CASHIER’S CHECKS
teller’s checks, see TELLER’S CHECKS
certified checks, see CERTIFIED CHECKS
Check 21 transactions, see CHECK 21 TRANSACTIONS
checklist, 1.2.2, 1.2.4
dishonor, see DISHONOR OF CHECKS
EFTA, application, 5.1.3.2, 5.1.3.8
fees, see BANK FEES
government checks, see GOVERNMENT CHECKS
holder in due course, see HOLDERS IN DUE COURSE
NSF, see NOT SUFFICIENT FUNDS (NSF)
parties to a check, 3.2.2
personal checks, see PERSONAL CHECKS
post-dated, see POST-DATED CHECKS
remotely-created, see REMOTELY CREATED CHECKS (RCCs)
stale checks, see STALE CHECKS
stop payments, see STOP PAYMENTS
substitute checks, see SUBSTITUTE CHECKS
telechecks, see REMOTELY CREATED CHECKS (RCCs)
traveler’s checks, see TRAVELER’S CHECKS
what is a check, 3.2.1
CLEARINGHOUSE RULES
see NATIONAL AUTOMATED CLEARING HOUSE ASSOCIATION (NACHA)
CLOSED ACCOUNTS
see also BANK ACCOUNTS
checks paid after, subrogation, 3.9.1
checks presented after, 3.3.4.1, 3.7.2.5
fees, 2.6.5
laws governing, 2.7.2
overview, 2.7.1
repeat garnishments, due to, 9.8.10
right to close, 2.7.2, 3.3.4.1
COLLECTION ACTIVITIES
see DEBTS; FAIR DEBT COLLECTION PRACTICES ACT (FDCPA)
COLLEGE PREPAID CARDS
see also ; PREPAID CARDS;
closed-loop cards, 7.1, 7.5
EFTA, application, 7.4.2.1
issuance, 5.2.2.3
open-loop cards, 7.5
overview, 7.5
COMPUTERS
see ACCESS DEVICES; INTERNET BANKING; INTERNET PAYMENT SYSTEMS
CONSENT
electronic check conversion, 5.3.4
electronic contracts, special rules, 11.3.5.6.2
electronic records
demonstrated electronic access, 11.3.5.4
E-Sign Act provisions, 11.3.5
hardware or software change, 11.3.5.5.2, 11.3.5.5.3
implicit consent, 11.2.4
lack of consent, effect, 11.3.5.6
ongoing consent, 11.3.5.5
oral records, 11.3.6.2
special E-Sign consumer requirements, 11.3.5.2
state-by-state analysis, 11.4.7
UETA provisions, 11.3.4.2
withdrawal of consent, 11.3.5.5.1
CONSTITUTIONAL PROTECTIONS
see DUE PROCESS
CONSUMER FINANCIAL PROTECTION BUREAU (CFPB)
see also FEDERAL BANKING REGULATORS
EFTA regulatory authority, 5.1.2
see also REGULATION E (EFTA)
electronic disclosure rules, 11.3.7.3
overdraft loan guidance, 2.6.3.5.4
CONSUMER LEASING ACT (CLA)
electronic disclosures, 11.3.7.3
CONSUMER PROTECTION LAWS
CLA, see CONSUMER LEASING ACT (CLA)
consumer, defined, 11.3.5.3
ECOA, see EQUAL CREDIT OPPORTUNITY ACT (ECOA)
E-Sign Act, displacement, 11.2.2.2
E-Sign Act provisions, see ELECTRONIC SIGNATURES IN GLOBAL AND NATIONAL COMMERCE ACT (E-SIGN ACT)
FCBA, see FAIR CREDIT BILLING ACT (FCBA)
FCRA, see FAIR CREDIT REPORTING ACT (FCRA)
TILA, see TRUTH IN LENDING ACT (TILA)
TISA, see TRUTH IN SAVINGS ACT (TISA)
UCC provisions, see UNIFORM COMMERCIAL CODE (UCC)
UETA provisions, see UNIFORM ELECTRONIC TRANSACTIONS ACT (UETA)
CONSUMER REPORTS
see CREDIT REPORTS
CONTRACT LAW
see also CONTRACTS; STATE LAW
check transaction rules, application, 3.4.4, 3.4.5
E-Sign Act or UETA application, effect, 11.2.3
formation of contract, 11.1.2.3
international remittances, application, 6.5.3.1
CONTRACTS
see also CONTRACT LAW
check cashing resulting in, 4.9.2
check transaction rules, variation by, 3.4.4
electronic contracts, see ELECTRONIC RECORDS
electronic signatures, 11.7.5
e-mail
evidence of intent, 11.1.2.3
modification through, 11.1.1, 11.1.2.3
E-Sign Act, application, 11.2, 11.3.5.6.2
“mailbox rule,” 11.6.1
CONVERSION ACTIONS
bearer paper checks, 4.4.2
cashier’s or teller’s checks, 6.3.4
definition of conversion, 4.4.3.5.1
order paper checks, 4.4.3.5
agency defense, 4.4.3.5.2
employee indorsement rule, 4.4.3.5.4
generally, 4.4.3.5.1
negligence defense, 4.4.3.5.3
restrictive indorsements, 4.4.4
statute of limitations, 4.4.3.5.1
COOKIES
account aggregators, use, 5.14.2.5
defined, 5.14.2.5
COURT PROCEEDINGS
E-Sign Act exemption, 11.2.2.2
CREDIT CARD NETWORK
see CARD NETWORKS
CREDIT CARDS
account aggregation, see ACCOUNT AGGREGATION SERVICES
authorizations, 5.3.1.5
automatic payment plans, 10.2.2.1
bank setoff restrictions, 10.2.2.1
defined, 7.2.15.2
EFTA, application, 5.1.3.6
interchange fees, see INTERCHANGE FEES
minimum purchase requirements, 5.8.3.1
lost or stolen, see LOST OR STOLEN CARDS OR CHECKS
multi-function cards, 5.1.3.6
PCI security standards, 5.4.7
prepaid cards with credit features, status, 7.2.15.2
receipts, last five digits only, 5.9.4
signature transactions, 1.1.3
surcharges, 5.9.3.2
TILA, application, 1.3.5
CREDIT REPORTS
negative, barrier to opening bank account, 2.2
prepaid cards and, 7.2.16
CREDIT TRANSACTIONS
E-Sign Act, application, 11.2.1.2, 11.3.1
prepaid cards, 7.2.15
CREDIT UNIONS
see BANKS; DEPOSITORY INSTITUTIONS; FEDERAL CREDIT UNIONS
CREDITORS
see also DEBTS
seizure of bank accounts
bank as creditor, see BANKER’S SETOFF
garnishment, see GARNISHMENT
security interests, 10.3
CROSS-MARKETING
account aggregation services, 5.14.4
DAMAGES
Check 21 transactions, 3.12.6.2, 3.12.6.4, 3.12.6.5
comparative negligence, effect, 3.12.6.7
checks paid not properly payable, 3.9.1
electronic fund transfers
EFTA violations, generally, 5.15.3
error resolution violations, 5.15.4
failure to follow instructions, 5.15.2
unauthorized transfers, consequential damages, 5.4.10
funds availability rule violations, 4.5.10
wrongful dishonor, 3.7.3
DATA
account aggregators, collection, 5.14.1.3
EBT security standards, 8.7.1
PIC security standards, 5.4.7
security breaches
account aggregators, 5.14.2.5
notification, 5.4.11
DEAF PERSONS
see also DISABLED AND SPECIAL-NEEDS PERSONS
EBT access, 8.9.5
DEBIT CARDS
see also ACCESS DEVICES;
access device status, 5.2.1.1
ATM access, see AUTOMATED TELLER MACHINES (ATMs)
authorizations, 5.3.1.5
chargeback rights, 5.5.1.2
checklist, 1.2.2
credit features, 5.1.3.6
declined transactions, 2.6.4
decoupled debit cards, 5.14.1.1
described, 1.1.3, 5.2.1.1
disputes with merchants, 5.5.1.2
EFTA, application, 5.1.3.6
error resolution procedures, 5.5
fees, see BANK FEES; INTERCHANGE FEES
generally, 5.2.1.1
holds related to, 4.5.11, 5.9.2
identification methods, 5.2.2.1
see also PERSONAL IDENTIFICATION NUMBERS (PINs)
issuance, 5.2.2
consumer request, 5.2.2.2
electronic disclosures, 5.2.6
initial disclosures, 5.2.3
subsequent disclosures, 5.2.4
unsolicited cards, 5.2.2.1
lost or stolen
reporting, 5.4.4.2, 5.4.4.3
“zero liability” policies, 5.4.8
multi-function cards, 5.1.3.6
NACHA rules, 5.5.1.2
overdraft, consumer opt-in, 5.7.2.2
coerced opt-ins, 5.7.2.4
procedure, 5.7.2.3
overview of issues, 5.9.1
PCI security standards, 5.4.7
PIN transactions, 1.1.3
see also PERSONAL IDENTIFICATION NUMBERS (PINs)
POS terminals, see POINT-OF-SALE (POS) TERMINALS
preauthorized debits, see PREAUTHORIZED ELECTRONIC FUND TRANSFERS
prepaid cards, distinguished, 7.2.1
purchase receipts, 5.9.4
surcharges, 5.9.3
TILA, application, 2.6.3.6
UCC, application, 2.6.3.9.2.1
unauthorized use, consumer liability, 5.4.4–5.4.8
virtual debit cards, 5.2.1.1
DEBT COLLECTION IMPROVEMENT ACT OF 1996 (EFT 99)
see also EFT 99 PAYMENTS
electronic transfers of federal payments, 9.3.1
DEBTS
see also CREDITORS
bank as creditor, see BANKER’S SETOFF
child support debts, 9.8.12
credit cards, see CREDIT CARDS
discharge by cashier’s or teller’s check, 6.3.6
discharge by money order, 6.2.7
discharge by personal check, 3.6.2, 3.6.4
accord and satisfaction, 3.11, 4.9.1
dishonor, effect, 3.6.2, 3.8.4.3, 4.7.6.3
general rules, 3.6.4.1
lost or stolen checks, 4.3, 4.4
post-dated checks, 3.7.2.7.2
time of discharge, 3.8.4.2
discharge by preauthorized EFT, 5.3.10, 5.8.5
non-compulsory, 5.3.11, 5.8.5
discharge by stored value card, 7.7.8.1
federal government, owed to, 9.8.12
post-dated payment, 3.7.2.7.2, 5.3.10
repayment
conditioned credit, 5.8.5
seizure of bank accounts
bank as creditor, see BANKER’S SETOFF
exempt funds, 9.8, 10.2.8
garnishment, see GARNISHMENT
secured bank accounts, 10.3
unfair collection practices, 3.7.2.7.2, 9.8.10
see also FAIR DEBT COLLECTION PRACTICES ACT (FDCPA)
DEFINITIONS
acceptance, 4.6.2
access device, 5.2.1.1
account, 4.5.2, 5.1.3.1, 9.8.3
account holder, 9.8.3
altered check, 3.6.4.2, 3.7.2.10
ATM, 1.1.3
ACH operator, 1.1.3
banking day, 4.5.3
business day, 4.5.3, 5.4.4.2
cashier’s check, 6.3.1
check truncation, 3.8.2.2
Check 21, 1.1.3
common terms, 1.1.3
conspicuousness, 11.3.7.6
consumer, 11.3.5.3
conversion, 4.4.3.5.1
cookies, 5.14.2.5
credit card, 7.2.15.2
data breach, 5.4.11
debit card, 1.1.3
depository bank, 1.1.3, 3.2.2
depository institution, 1.1.3, 2.4.1
direct express card, 9.6.2.2
drawee, 1.1.3
drawee bank, 3.2.2
drawer, 1.1.3, 3.2.2
EBT card, 1.1.3
ECC, 1.1.3
EFT 99, 1.1.3
EFTA definitions, 5.1.3.1
electronic, 11.2.1.1
electronic fund transfer, 5.1.3.2, 6.5.2.2
electronic record, 11.2.1.1
electronic signature, 11.2.1.1
error, 5.5.1.1
ETA, 1.1.3
federal agency, 9.3.1
federal payments, 9.3.1
financial institution, 5.15.3
garnishment order, 9.8.4
general purpose reloadable card, 1.1.3
gift certificate, 7.7.1.1
good faith, 3.4.3, 3.5.3.4, 3.7.2.8
holder, 3.5.3.2
incomplete check, 3.6.4.2, 3.7.2.10
issuance, 3.5.2.1, 4.2.1
item, 3.2.1.1
maintenance or activity fee, 2.4.3
mobile banking, 1.1.3
mobile payments, 1.1.3
nonproprietary ATM, 4.5.8.1
originating depository financial institution, 1.1.3
ordinary care, 3.4.3
payee, 3.2.2
payment processor, 3.2.2
payor bank, 3.2.2
PIN debit transaction, 1.1.3
POS transaction, 1.1.3
preauthorized electronic fund transfer, 5.8.1
prepaid card, 1.1.3, 7.2.1
properly payable, 3.7.2.1
proprietary ATM, 4.5.8.1
receiving depository financial institution, 1.1.3
record, 11.2.1.1
remittance transfer, 6.5.2.2
remotely created check, 3.13.1
remotely-created consumer item, 3.13.1
repeated overdrafts, 4.5.7.3
signature, 3.6.3.1, 3.13.2.1
signature transaction, 1.1.3
store gift card, 7.7.1.1
stored value card, 1.1.3, 7.1
substitute check, 3.7.4, 3.12.3.2
system error, 8.8.2.2
teller’s check, 6.4
transaction account, 4.5.2
transaction, 11.2.1.2
traveler’s check, 6.4
truncate, 3.12.1.1
unauthorized debit entry, 5.4.2.2
unauthorized electronic transfer, 5.4.2.1
DELIVERY
checks, what constitutes, 4.2.2
electronic records, see ELECTRONIC DELIVERY
U.S. Postal Service
“mailbox rule,” 11.6.1
presumption of delivery, 11.6.3.3
DEMAND DRAFTS
see REMOTELY CREATED CHECKS (RCCs)
DEPARTMENT OF AGRICULTURE (USDA)
SNAP regulations, 8.2.1, 8.2.4
disaster guidance, 8.5.4
DEPARTMENT OF LABOR (DOL)
unemployment compensation prepaid cards, guidance, 7.4.3, Appx. F.4.2
Labor Secretary’s letter, Appx. F.4.1
DEPOSIT ACCOUNTS
see also BANK ACCOUNTS
access devices, see ACCESS DEVICES
advances linked to prepaid cards, 7.2.15.4
ATM deposit errors, 5.10.3
automatic payment plans
credit card debts, 10.2.2.1
electronic, see PREAUTHORIZED ELECTRONIC FUND TRANSFERS
preauthorized drafts, see REMOTELY CREATED CHECKS (RCCs)
availability of funds, see FUNDS AVAILABILITY
bank’s right of setoff, see BANKER’S SETOFF
cut-off hour for deposits, 4.5.3
direct deposits, see DIRECT DEPOSITS
demand, compared to savings, 2.3a
deposit errors, 4.5a
disclosures, 2.4
account opening, 2.4.2
advertisements, 2.4.3
delivery, 2.4.2.1
fees, 2.4.2.3, 2.4.3, 2.4.4
interest rates, 2.4.2.2
minimum balance requirements, 2.4.2.4
periodic statements, 2.4.4
EFAA, application, 4.5.2
electronic deposits, see DIRECT DEPOSITS
errors, 4.5a
ETAs, see ELECTRONIC TRANSFER ACCOUNTS (ETAs)
FDIC insurance, 7.2.14.1
federal credit unions, 1.4.8
fees, see BANK FEES
fiduciary duty of bank, 2.3.1
“free checking,” 2.4.3
garnishment, see GARNISHMENT
interest
calculation of interest, 2.4.5
rate disclosures, 2.4.2.2
national banks, 1.4.3, 1.4.4, 1.4.7
periodic statements, 2.4.4
prepaid cards linked to, 7.2.17
security interests, 10.3
TISA, 2.4
application, 2.1, 2.4.1
enforceability, 2.4.6
DEPOSITORY INSTITUTIONS
see also BANKS; FINANCIAL INSTITUTIONS
accounts held with, see BANK ACCOUNTS
defined, 1.1.3, 2.4.1
described, 1.1.3
FDIC or NCUA deposit insurance, 7.2.14.2
originating depository financial institution, 1.1.3
receiving depository financial institution, 1.1.3
setoff rights, see BANKER’S SETOFF
DIGITAL SIGNATURES
see also
described, 11.7.3
electronic signature, term distinguished, 11.7.3
state law favoring, 11.7.3
DIRECT DEPOSITS
see also
ATM deposits, 5.10
availability of funds, 4.5.4.1, 5.6.1
checklist, 1.2.4
compulsory use, 5.2.2.3, 5.3.11, 5.6.3
disclosure requirements, 5.2.4.3
enrolment, 5.6.2
errors, 5.6.2, 9.9
ETAs, see ELECTRONIC TRANSFER ACCOUNTS (ETAs)
federal EFT 99 payments
see also EFT 99 PAYMENTS
accounts not in recipient’s name, 9.6
compulsory versus optional, 9.3.1
default account, 9.3.1, 9.6.2.1
Direct Express card, 9.6.2
EFTA, application, 9.4
electronic transfer accounts (ETAs), 9.5
generally, Appx. H.1
name of recipient only, 9.6.1
prepaid cards, generally, 7.2.8, 9.6.1
private label prepaid cards, 9.6.3
protecting exempt funds, Appx. H.3
qualifying financial institution, 9.4, 9.6.1
NACHA rules, 5.6.1
prepaid cards, onto, 7.2.8
see also PREPAID CARDS
government cards, see GOVERNMENT-ISSUED PREPAID CARDS
state benefits
cash benefits to ETA account, 9.5.4
EBTs, see ELECTRONIC BENEFITS TRANSFER (EBT)
transferor cannot specify institution, 5.2.2.3, 5.3.11, 5.6.3
DIRECT EXPRESS CARD
see also EFT 99 PAYMENTS; ; GOVERNMENT-ISSUED PREPAID CARDS
defined, 9.6.2.2
EFTA, application, 9.6.2.4
FDIC coverage, 9.6.2.4
fees, 9.6.2.3
frequently asked questions, Appx. H.4
garnishment or attachment, 9.6.2.5, 9.8.14
overview, 9.6.2.1, Appx. H.4
use and terms, 9.6.2.3
DISABLED AND SPECIAL-NEEDS PERSONS
Americans with Disabilities Act, 8.9.2
ATM access
ADA application, 8.9.2
blind persons, 8.9.4.3.2, 8.9.4.3.3
EBTs, 8.9
ADA application, 8.9.2
alternative payees, 8.9.1.3
blind recipients, 8.9.4
deaf recipients, 8.9.5
exemptions, 8.9.1.2
functionally illiterate recipients, 8.9.9
homebound recipients, 8.9.3
homeless persons, 8.9.7
mentally ill recipients, 8.9.6
non-English-speaking recipients, 8.9.10
physical disabilities, 8.9.3
special accommodation, 8.9.3, 8.9.4.1, 8.9.4.3, 8.9.5.2, 8.9.6
speech-impaired recipients, 8.9.5
training materials, 8.4.2, 8.9.4.2, 8.9.5.1, 8.9.9, 8.9.10
visually impaired recipients, 8.9.4
DISASTER RECOVERY PLANS
EBT benefits, 8.5.4
DISCLOSURES
see also NOTICE
account aggregators
aggregation fees, 5.14.5
re-publishing of bank disclosures, 5.14.6
ATM deposits, funds availability, 4.5.8.2
ATM fees, 5.10.1
federal law, 5.10.1.1
state law, 5.10.1.2
bank fees, 2.4.2.3, 2.4.3, 2.4.4, 2.6.2
overdraft loan fees, 2.6.3.3
check cashing resulting in contract, 4.9.2
conspicuous, 11.3.7.1, 11.3.7.6
deposit accounts
account opening, 2.4.2
advertisements, 2.4.3
periodic statements, 2.4.4
electronic disclosures, see ELECTRONIC DISCLOSURES
electronic fund transfers (EFTs)
ATM fees, 5.10.1
change in terms, 5.2.4.1
content, 5.2.3.3
direct deposits, recurring, 5.2.4.3
EFTA requirements, 5.2.3–5.2.6
electronic provision, 5.2.6
error resolution, 5.2.4.2
form, 5.2.3.1
initial disclosures, 5.2.3
periodic statements, 2.4.4, 5.2.5
subsequent disclosures, 5.2.4
timing, 5.2.3.2
TISA, 2.5
variable preauthorized transfers, 5.8.3
electronic records
hardware or software changes, 11.3.5.5.2
options, 11.3.5.2, 11.3.5.5.1
prior to consent, 11.3.5.2
withdrawal of consent, effect, 11.3.5.5.1
E-Sign Act, application, 11.1.3
funds availability, 4.5.9
ATM deposits, 4.5.8.2
money transmitters, 6.6.3.3
international remittances, 6.5.2.3
oral disclosures, 11.3.6.2
overdraft lines of credit, 2.4.4
overdraft loans, 2.6.3.3
periodic statements, 2.4.4
prepaid cards, 7.2.5
gift cards, 7.7.2.1, 7.7.3.1
government cards, 7.4.2.3
remittances
domestic remittances, 6.6.3.3
international remittances, 6.5.2.3
TISA, 2.4
state law preemption, 2.5
DISHONOR OF CHECKS
acceptor, by, 3.6.6
bank account hold, due to, 3.7.3, 4.5.11
bank balance, determination
rules, 3.8.4.5
time, 3.8.4.4
chargebacks, 4.7.2
drawer’s obligation, 3.6.4.1, 4.6.2, 4.7.6.2
effect, 3.8.4.3
evidence of as notice, 3.5.3.5.2
example of check return, 3.8.4.6
final payment, after, 3.9.2, 4.8.3
final payment, effect, 3.8.4.1, 3.8.4.2, 4.7.1, 4.8.1
“midnight deadline,” 3.8.4.1
indorser’s obligation, 3.6.5, 4.7.3
notice of dishonor, 3.6.4.1, 3.8.4.1, 3.8.4.3, 4.7.2, 4.7.3
NSF, see NOT SUFFICIENT FUNDS (NSF)
payee’s liability, 4.7
payee’s rights, 4.7.6
refusal to accept as, 4.6.2, 4.6.3
re-presentment of dishonored checks, 3.8.5
stale checks, 3.7.2.8, 3.7.3, 3.8.3.3
statute of limitations, 3.4.6
stop payments, see STOP PAYMENTS
underlying obligation revived, 3.6.2, 3.8.4.3, 4.6.2, 4.7.6.3
wrongfully, see WRONGFUL DISHONOR
DOCUMENTS
see RECORDS
DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT
see ELECTRONIC FUND TRANSFER ACT (EFTA); TRUTH IN LENDING ACT (TILA)
DRAFTS
see also CHECKS; NEGOTIABLE INSTRUMENTS
bank drafts, see TELLER’S CHECKS
checks, inclusion in term, 3.2.1.1
generally, 3.2.1.1
personal checks, see PERSONAL CHECKS
preauthorized drafts, see REMOTELY CREATED CHECKS (RCCs)
traveler’s checks, see TRAVELER’S CHECKS
UCC application, 3.2.1.1
DUE PROCESS
bank setoffs, 10.2.1.1
ETA accounts, 9.5.9
DUTY OF CARE
see ORDINARY CARE
E-MAIL
see ELECTRONIC COMMUNICATIONS; ELECTRONIC DELIVERY
E-SIGN ACT
see ELECTRONIC SIGNATURES IN GLOBAL AND NATIONAL COMMERCE ACT (E-SIGN ACT)
EBT
see ELECTRONIC BENEFITS TRANSFER (EBT)
EBT CARDS
see ELECTRONIC BENEFITS TRANSFER (EBT) CARDS
ECC OR ECK
see ELECTRONIC CHECK CONVERSION (ECC)
EFAA
see EXPEDITED FUNDS AVAILABILITY ACT (EFAA)
EFT
see ELECTRONIC FUND TRANSFERS (EFTs)
EFT 99 PAYMENTS
see also DEBT COLLECTION IMPROVEMENT ACT OF 1996 (EFT 99);
account in recipient’s name only, 9.6.1
accounts not in recipient’s name, 9.6
bank setoff, 10.2.8
BSC card, 9.7
compulsory electronic deposit, 9.3.1
exemptions, 9.3.2–9.3.6
defined, 9.3.1
described, 1.1.3, 9.3
direct deposit to qualifying financial institution, 9.4
EBT account, transfer to, 9.7
EFTA, application, 5.1.3.4, 9.7
ETA accounts, see ELECTRONIC TRANSFER ACCOUNTS (ETAs)
nursing facility patients, 9.6.4
overview, 9.3
prepaid cards, 7.4
see also GOVERNMENT-ISSUED PREPAID CARDS
Direct Express card, see DIRECT EXPRESS CARD
private label prepaid cards, 9.6.3
transfers to EBT card, 9.7
religious orders, 9.6.4
waiver of electronic transfer, 9.3.1, 9.3.2–9.3.6
EFTA
see ELECTRONIC FUND TRANSFER ACT (EFTA)
ELECTRONIC BENEFITS TRANSFER (EBT)
see also
account records, 8.8.5
balance inquiries, 8.6.5
blind persons, accessibility, 8.9.4.3.3
advantages, 8.1.1
advocacy before state agencies, 8.2.2.2
applicable law, 8.2
EFTA application, 8.2.3
federal regulations, 8.2.1
private enforcement, 8.2.5
QUEST guidelines, 8.2.2.1
SNAP regulations, 8.2.1, 8.2.4
state agency contract with vendor, 8.2.2
state laws, 8.2.1
benefit cards, see ELECTRONIC BENEFITS TRANSFER (EBT) CARDS
cash benefits, 8.5.2, 8.5.3.3
POS terminals, 8.6.4
stolen benefits, 8.7.3.3
checklist, 1.2.3, 1.2.4
contractor standards, 8.2.2
described, 1.1.3, 8.1.1
direct deposits of cash benefits to ETA, 9.5.4
disabled and special-needs recipients, 8.9
ADA application, 8.9.2
ATM access, 8.9.2.2
alternative payee systems, 8.9.1.3
blind and visually impaired recipients, 8.9.4
deaf recipients, 8.9.5
exemptions, 8.9.1.2
functionally illiterate recipients, 8.9.9
generally, 8.9.1
homebound recipients, 8.9.3
homeless persons, 8.9.7
mentally ill recipients, 8.9.6
non-English speaking recipients, 8.9.10
physical disabilities, 8.9.3
special accommodation, 8.9.3, 8.9.4.1, 8.9.4.3, 8.9.5.2, 8.9.6
speech-impaired recipients, 8.9.5
training materials, 8.4.2, 8.9.4.2, 8.9.5.1, 8.9.9, 8.9.10
disadvantages, 8.7.5.1
disaster recovery plans, 8.5.4
EFTA, application, 5.1.3.4, 7.4.1, 8.2.3, 9.7
error resolution, 8.8
cash assistance errors, 8.8.3
fair hearing rights, 8.8.2.5, 8.8.3
merchant reimbursement, 8.8.2.2, 8.8.2.3
model procedures, 8.8.4
notice of error, time, 8.8.2.2
notice of error correction, 8.8.2.5
overpayments, 8.8.2.1
Quest rules, 8.8.1, 8.8.2.2, 8.8.3
SNAP errors, 8.8.2
sources of standards, 8.8.1
system errors, 8.8.2.2
underpayments, 8.8.2.5
explained, 8.1.1
federal benefits, transfer to, 9.7
fees, 8.6
ATM charges, 8.6.2.2, 8.6.3
balance inquiries, 8.6.5
cash benefits, 8.6.2, 8.6.3, 8.6.4
interchange fees, 7.2.3.2.3
merchant fees, 8.6.6
POS charges, 8.6.4
QUEST guidelines, 8.2.2.1
replacement cards, 8.3.4.3, 8.6.1, 8.6.7
SNAP benefits, 8.6.1
frequently asked questions, Appx. G.2
insufficient funds payments, re-presentment, 8.8.2.3
overview, 8.1
privacy issues, 8.7.5
generally, 8.7.5.1
smart cards, 8.7.5.3
SNAP benefits, 8.7.5.2
private vendor contracts, 8.2.2
standards, 8.2.2.1
terms of contract, 8.2.2.2
QUEST guidelines
error resolution, 8.8.1, 8.8.2.2, 8.8.3
generally, 8.2.2.1
recipient access, 8.5
back-up systems, 8.5.3
cash benefits, 8.5.2, 8.5.3.3, 8.6.4
dedicated POS devices, 8.5.2.3, 8.6.4.2
disabled and special-needs persons, 8.9
disaster recovery plans, 8.5.4
electronic fund transfer, 8.5.2.4
group living facilities, 8.9.8
homeless meal providers, 8.9.8
homeless persons, 8.9.7, 8.9.8
limiting by type of purchase, 8.5.2.5
manual back-up, 8.5.3
SNAP benefits, 8.5.1, 8.5.3.2, 8.9.7
recipient training, 8.4
blind recipients, 8.9.4.2
deaf and hard of hearing recipients, 8.9.5.1
functionally illiterate recipients, 8.9.9
generally, 8.4.1
homeless persons, delivery of materials, 8.9.7
in-person training, 8.4.3
non-English speaking recipients, 8.9.10
speech-impaired recipients, 8.9.5.1
telephone training, 8.4.4
visually impaired recipients, 8.9.4.2
written materials, 8.4.2
reduction of benefits, 8.8.2.5
overdrafts, 8.8.2.3
state claims against recipient, 8.8.2.4
restrictions on use of funds, 8.2.1
security, 8.7
account lock-out, 8.7.4
data and account security, 8.7.1
lost or stolen cards or PINs, 8.7.3
personal security, 8.7.2
SNAP benefits, mandatory receipt by, 8.1.1
see also SUPPLEMENTAL NUTRITION ASSISTANCE PROGRAM (SNAP)
access to benefits, 8.5.1, 8.5.3.2, 8.9.7
disaster recovery plans, 8.5.4
exceptions, 8.9.1.2
frequently asked questions, Appx. G.2
homeless access, 8.9.7
lost or stolen cards, 8.7.3.2
merchant participation, 8.5.1.1, 8.6.6
special needs recipients, 8.9.1.2
USDA regulations, 8.2.4, 8.5.1.1, 8.9.7
web resources, Appx. G.1
system downtime, 8.5.3
manual SNAP vouchers, 8.5.3.2
TANF funds, 8.2.1
transaction histories, 8.8.5
ELECTRONIC BENEFITS TRANSFER (EBT) CARDS
see also ELECTRONIC BENEFITS TRANSFER (EBT); GOVERNMENT-ISSUED PREPAID CARDS
BSC card, 9.7
disabled persons, 8.9
federal payments, transfer to, 9.7
how cards work, 8.1.2
issuance, 8.3.1
lost or stolen, 8.3.4, 8.6.7, 8.7.3
multiple cards, 8.3.2
PINs, 8.3.3
prepaid cards distinguished, 8.1.3
replacement cards and PINs, 8.3.4, 8.6.1, 8.6.7, 8.7.3
smart cards, 8.7.3.5, 8.7.5.3
type of prepaid card, 7.4.1, 8.1.3
ELECTRONIC BILL PAYMENT SERVICES
see ACCOUNT AGGREGATION SERVICES
ELECTRONIC CHECK CONVERSION (ECC)
see also
applicable rules, 3.4.1, 5.1.5.4 , 5.11.2
ARCs, see ACCOUNTS RECEIVABLE ENTRIES (ARCs)
authorization requirements, 5.3.4
NACHA, 5.3.4.2
Regulation E, 5.3.4.1
bank warranties, 5.11.3
ARCs, 5.11.3.2
BOCs, 5.11.3.3
POPs, 5.11.3.3
BOCs, see BACK OFFICE CONVERSION ENTRIES (BOCs)
bounced checks for re-presentment, 3.8.5
check payments distinguished, 3.4.1, 5.1.3.8.2
checklist, 1.2.2
described, 1.1.3, 5.1.5.4
EFTA, application, 5.1.3.8.1, 5.1.3.8.2, 5.2.1.2
electronic check images distinguished, 3.4.1, 5.1.3.8.2
Federal Reserve Bank Circular 3, Appx. C.4, Appx. C.5
FRB pamphlet, Appx. E.4
NACHA distinctions, 5.1.5.4
NACHA rules, 5.11.2, 5.11.3
POPs, see POINT-OF-PURCHASE (POP) TRANSACTIONS
source documents
access devise status, 5.2.1.2
ARCs, 5.11.2.1
POPs, 5.11.2.2
retention, 5.11.2
ELECTRONIC CHECK IMAGES
see also CHECK 21 TRANSACTIONS; SUBSTITUTE CHECKS; TRUNCATION OF CHECKS
applicable rules, 3.4.1, 3.8.2.2
UCC overview, 3.4.2
automated check collection, described, 3.8.2.2
creation, entitlement, 3.12.2
EFTA, application, 5.1.3.8.1
electronic check conversion distinguished, 3.4.1, 5.1.3.8.2
Federal Reserve Bank Circular 3, Appx. C.4, Appx. C.5
refusal to accept, 3.12.3.1
“remote deposit capture,” 3.12.2
ELECTRONIC COMMUNICATIONS
see also ; ELECTRONIC SERVICES;
contracts
evidence of intent, 11.1.2.3
modification, 11.1.1
delivery of records, see ELECTRONIC DELIVERY
disclosures, see ELECTRONIC DISCLOSURES
E-Sign, application, 11.2.1.2
government agency regulations, 11.5.2
standards and format, 11.5.4
GPEA, application, 11.5.4
implicit consent, 11.2.4
issues still to be decided, 11.1.2.2
NACHA Rules, 1.3.3
notices, see under NOTICE
optional nature, 11.1.2.4, 11.3.2, 11.3.4.2, 11.3.5.1
oral communications, status, 11.3.6.2
replacing paper with, 11.1
signatures, see ELECTRONIC SIGNATURES
UETA, application, 11.2.1.2
ELECTRONIC CONTRACTS
see ELECTRONIC RECORDS
ELECTRONIC DELIVERY
generally, 11.6.1
means of delivery
underlying law not specifying, 11.6.2
underlying law specifying, 11.6.3
non-receipt, 5.2.6
re-delivery, 11.6.2
proof of delivery, 11.6.3.3
verification or acknowledgment, 11.6.3.1
ELECTRONIC DEPOSITS
see DIRECT DEPOSITS; ELECTRONIC FUND TRANSFERS (EFTs)
ELECTRONIC DISCLOSURES
see also DISCLOSURES; ELECTRONIC COMMUNICATIONS
authorization, 5.2.6
CFPB rules, 11.3.7.3
CLA, 11.3.7.3
conspicuousness, 11.3.7
delivery, 5.2.6
see also ELECTRONIC DELIVERY
mailing, 11.6.3.2
ECOA, 11.3.7.3
EFTA disclosures, 5.2.6, 11.3.7.3
E-Sign Act
application, 11.1.3
requirements, 11.3.7.2
format, 11.3.7
FRB rules, 11.3.7.3
FTC analysis, 11.3.7.4
national banks, 11.3.7.5
prepaid cards, 7.2.5
TILA, 11.3.7.3
timing, 11.3.7
UETA requirements, 11.3.7.2
ULC proposals, 11.3.7.6
ELECTRONIC FUND TRANSFER ACT (EFTA)
see also
account aggregation, application, 5.14.2.3
authorization requirements, 5.3.1
preauthorized transfers, 5.8.2.1
bank fees, application, 2.6.1
ATM fees, 5.10.1.1
interchange fees, 5.9.3.1
overdraft fees, 2.6.3.4, 5.7.2
BSC cards, application, 9.7
consumer instructions, requirement to follow, 5.15.2
definitions, 5.1.3.1
described, 1.1.3
disclosure requirements, 2.5, 5.2.3, 5.2.4
combining with TISA and TILA, 5.2.3.1
electronic provision, 5.2.6, 11.3.7.3
error resolution, 5.2.4.2
initial disclosures, 5.2.3
international remittances, 6.5.2.3
gift cards, 7.7.2.1
overdraft fees, 2.6.3.4
periodic statements, 5.2.5
subsequent disclosures, 5.2.4
timing, 5.2.3.2
variable preauthorized transfers, 5.8.3
document retention requirements, 5.15.1
EBTs, application, 8.2.3, 9.7
ECCs, 5.3.4.1
EFT 99 payments, application
BSC cards, 9.7
direct deposits, 9.4
Direct Express card, 9.6.2.4
error resolution procedures, 5.5
account aggregation services, 5.14.3.2
ATMs, application, 5.10.3.2
Direct Express card, 9.6.2.4
disclosure requirements, 5.2.4.2
EBT errors, 8.8
international remittances, 6.5.2.4
government cards, 7.4.2.3
prepaid cards, application, 7.2.12, 7.4.2.3
scope, 5.5.1
TILA rules compared, 5.4.1, 5.5.1.1
violation of, 5.15.4
E-Sign, relationship, 11.4.3.3
ETAs, application, 9.5.9
evasion of rights, see WAIVER
funds availability, application, 4.5.11
generally, 5.1.2
government prepaid cards, application, 7.4.2
modifications, 7.4.2.3
international remittances, 6.5.2
disclosure requirements, 6.5.2.3
effective date, 6.5.2.5
error resolution, 6.5.2.4
overview, 6.5.2.1
scope, 6.5.2.2
unauthorized transfers, 6.5.2.4.2
litigation under, 5.15
overdraft fee rules, 2.6.3.4, 5.7.2
periodic statements, requirements, 5.2.5
government payments, 7.4.2.3
preauthorized electronic fund transfers, 5.8
prepaid cards, application, 7.2.3.1, 7.2.3.2
gift cards, 7.7.1.1, 7.7.2.1, 7.7.3.1
government cards, 7.4.2
payroll cards, 7.3.2, 7.3.3
preemption of state law, 5.1.4
purpose, 1.3.2, 5.1.2
Regulation E, see REGULATION E (EFTA)
Regulation II, see REGULATION II (EFTA)
regulatory authority, 5.1.2
remittances
domestic, application, 6.5.2.1, 6.6.2
international, regulation, 6.5.2
remotely created checks, application, 3.13.4
remotely created payment orders, application, 3.13.5
re-presentment of checks, application, 3.8.5
scope, 1.3.2, 5.1.3
text, Appx. E.1
unauthorized transfers
bona fide errors, 5.8.2.1, 5.10.2.3, 5.15.2, 5.15.3
consumer liability rules, 5.4.3, 5.4.4
definition, 5.4.2.1
re-credit rules, 5.4.9
reporting rules, 5.4.5
TILA rules compared, 5.4.1
violations, civil liability, 5.10.2.3, 5.15
bona fide error defense, 5.8.2.1, 5.10.2.3, 5.15.2, 5.15.3
federal court jurisdiction, 5.15.5
generally, 5.15.3
statute of limitations, 5.15.5
waiver of liability rules, 5.4.3
waiver of rights, 5.1.2a
ELECTRONIC FUND TRANSFERS (EFTs)
see also ELECTRONIC FUND TRANSFER ACT (EFTA)
access devices, see ACCESS DEVICES
account aggregation, see ACCOUNT AGGREGATION SERVICES
authorization requirements, 5.3
debt collectors, 5.3.10
ECCs, 5.3.4
government benefit payments, 5.3.11
loan payments, 5.3.11
NACHA investigations, 5.3.9
NSF fees, 5.3.6
payday loans, 5.3.8, 5.8.6.2
re-presented items, 5.3.5
revocation of authorization, 5.3.7, 5.3.8
telephone-initiated transfers, 5.3.2
wage payments, 5.3.11
web transfers, 5.3.3
automated clearing
ACH system, see ACH (AUTOMATED CLEARING HOUSE) SYSTEM
NACHA Rules, see NATIONAL AUTOMATED CLEARING HOUSE ASSOCIATION (NACHA)
availability of funds, 4.5.4.1
“blocking,” 5.9.2
cell phone transfers, see MOBILE PAYMENTS
checklist
payments in, 1.2.4
payments out, 1.2.2
compulsory use, 5.3.11, 7.2.4, 7.4.2.2
government benefit prepaid cards, 5.3.11
payroll, 5.3.11, 7.3.1
consumer complaints, 5.15.7
consumer instructions, failure to follow, 5.15.2
debit cards, see DEBIT CARDS
defined, 5.1.3.2, 5.4.2.1, 6.5.2.2
direct deposits, see DIRECT DEPOSITS
disclosures, 2.5, 5.2.3–5.2.6
ATM fees, 5.10.1
change in terms, 5.2.4.1
content, 5.2.3.3
direct deposits, recurring, 5.2.4.3
electronic provision, 5.2.6
error resolution, 5.2.4.2
form, 5.2.3.1
initial disclosures, 5.2.3
overdrafts, 2.6.3.4
periodic statements, 2.4.4, 5.2.5
subsequent disclosures, 5.2.4
timing, 5.2.3.2
TISA, 2.5
variable preauthorized transfers, 5.8.3
document retention, 5.15.1
EBT funds, 8.5.2.4
EFTA scope, 1.3.2, 5.1.3.2, 5.1.3.8
EFTA violations, 5.10.2.3, 5.15
electronic check conversion, see ELECTRONIC CHECK CONVERSION (ECC)
error resolution procedures, 5.5
aggregation services, 5.14.3
ATM errors, 5.10.3
debit card purchases, 5.5.1.2
direct deposits, 5.6.2
disclosure requirements, 5.2.4.2
EBT errors, 8.8
EFTA violations, 5.15.4
fees, 2.6.5, 5.5.3
investigation of error, 5.5.3–5.5.8
payroll cards, 7.3.2
post-investigatory procedures, 5.5.8
prepaid cards, 7.2.12
provisional credit, 5.4.9, 5.5.6, 5.5.8
report of findings, 5.5.8
reporting of error, 5.5.2
scope, 5.5.1
time, 5.5.5–5.5.7
ETA accounts, see ELECTRONIC TRANSFER ACCOUNTS (ETAs)
federal payments, 9.3
fees, 5.7
generally, 5.7.1
interchange fees, 5.9.3
overdraft fees, 5.7.2
government benefits, 5.3.11
federal, see EFT 99 PAYMENTS
prepaid cards, see GOVERNMENT-ISSUED PREPAID CARDS
state-administered, see ELECTRONIC BENEFITS TRANSFER (EBT)
international remittances, 6.5.2
Internet-based, see INTERNET PAYMENT SYSTEMS
loan payments, 5.3.11
payday loans, 5.3.8
NACHA investigations, 5.3.9
NACHA rules, 1.3.3, 5.1.5, 5.3.1
violations, 5.15.6, 5.15.7
NSF fees, see NSF FEES
overdraft loan fees, 5.7.2
see also OVERDRAFT LOAN FEES
anti-invasion provisions, 5.7.2.4
consumer opt-in, 5.7.2.2–5.7.2.4
generally, 5.7.2.1
notice, 5.7.2.3
payday loans, 5.3.8, 5.8.6
state law, 5.8.6.4
PCI security standards, 5.4.7
periodic statements, 2.4.4, 3.10.1.1, 5.2.5
government payments, 7.4.2.3
preauthorized, see PREAUTHORIZED ELECTRONIC FUND TRANSFERS
prepaid cards, see PREPAID CARDS
receipts, card number on, 5.9.4
repayment
conditioned credit, 5.8.5
re-presented checks, see ELECTRONIC RE-PRESENTMENT OF CHECKS (RCKs)
security standards, 5.4.7
state law, 5.1.4
stop payments, 5.3.7
telephone-initiated, see TELEMARKETERS; TELEPHONE-AUTHORIZED TRANSFERS
terminals, see AUTOMATED TELLER MACHINES (ATMs); POINT OF SALE (POS) TERMINALS
UCC, application, 2.6.3.9.2.1
unauthorized transfers, liability, 5.4
aggregation services, 5.14.2.3.2
bona fide errors, 5.8.2.1, 5.10.2.3, 5.15.2, 5.15.3
consequential damages, 5.4.10
consumer negligence, 5.4.3
defined, 5.4.2.1, 5.4.2.2
immediate re-credit, 5.4.9
limits on liability, 5.4.4, 5.4.7
NACHA rules, 5.4.2.2, 5.4.9
payroll cards, 7.3.2
reporting, 5.4.5, 5.4.6, 5.5.2
state law, 5.4.7
UCC, application, 5.4.7, 5.4.10
unlimited liability, 5.4.5
waiver of rules, 5.4.3
wage payments, 5.3.11
ELECTRONIC INFORMATION
see DATA
ELECTRONIC PAYMENTS
see ACH (AUTOMATED CLEARING HOUSE) SYSTEM; ELECTRONIC FUND TRANSFERS (EFTs)
ELECTRONIC RE-PRESENTMENT OF CHECKS (RCKs)
see also RE-PRESENTMENT OF BOUNCED CHECKS
authorization requirements, 5.3.5
bank warranties, 5.12.4
copies of check, 5.12.5
EFTA, application, 5.1.3.8.1, 5.1.3.8.3
Federal Reserve Bank Circular 3, Appx. C.5
identification on periodic statement, 5.12.5
NACHA rules, 5.3.5, 5.12
limits on number of re-presentments, 5.12.2
overview, 5.12.1
overview, 3.8.5, 5.1.3.8.3, 5.1.5.5
record retention, 5.12.5
ELECTRONIC RECORDS
see also ELECTRONIC COMMUNICATIONS
access ability, reasonably demonstrated, 11.3.5.4
applicable law, 1.3.4, 11.4
E-Sign provisions, see ELECTRONIC SIGNATURES IN GLOBAL AND NATIONAL COMMERCE ACT (E-SIGN ACT)
NACHA rules, 5.1.5.6
UCC, 11.1.1
UETA provisions, see UNIFORM ELECTRONIC TRANSACTIONS ACT (UETA)
burden of proof, 11.3.6.1
consent requirements
E-Sign, 11.3.5
hardware or software changes, 11.3.5.5.2, 11.3.5.5.3
implicit consent, 11.2.4
lack of consent, effect, 11.3.5.6
ongoing consent, 11.3.5.5
state-by-state analysis, 11.4.7
UETA, 11.3.4.2
withdrawal of consent, 11.3.5.5.1
contracts
E-Sign consent provisions, effect, 11.3.5.6.2
evidence of intent, 11.1.2.3
modification, 11.1.1
defined, 11.2.1.1
delivery, 11.6
electronic transmission, see ELECTRONIC DELIVERY
first class mail, 11.6.3.2
“mailbox rule” application, 11.6.1
disclosure requirements
hardware or software changes, 11.3.5.5.2
options, 11.3.5.2, 11.3.5.5.1
prior to consent, 11.3.5.2
withdrawal of consent, effect, 11.3.5.5.1
disclosures, see ELECTRONIC DISCLOSURES
document integrity and retention, 11.3.6
government agency regulations, 11.5.2
standards and format, 11.5.4
GPEA, application, 11.5.4
legal status, 11.1.2.1, 11.1.2.3
non-electronic transactions, 11.1.2.5
oral records, status as, 11.3.6.2
replacing paper with, 11.1.2
ELECTRONIC SERVICES
see also ELECTRONIC COMMUNICATIONS
access devices, see ACCESS DEVICES
disclosure requirements, 5.2.3–5.2.6
fund transfers, see ELECTRONIC FUND TRANSFERS (EFTs)
national banks, 1.4.5
ELECTRONIC SIGNATURES
see also ELECTRONIC COMMUNICATIONS;
association with contract, 11.7.5
attribution, 11.7.4.2, 11.7.4.4
authentication, 11.7.4.2, 11.7.4.3
potential techniques, 11.7.4.5
contracts, 11.1.2.3, 11.1.2.4
defined, 11.2.1.1, 11.7.1
digital signatures, 11.7.3, 11.7.1a
enforceability, 11.7.1
E-Sign provisions, see ELECTRONIC SIGNATURES IN GLOBAL AND NATIONAL COMMERCE ACT (E-SIGN ACT)
examples, 11.7.2
government agency regulations, 11.7.7
handwritten signatures, differences, 11.7.4.1
intention to sign, 11.7.4.1
legal status, 11.1.2.1, 11.1.2.4
NACHA rules, 5.1.5.6
non-electronic transactions, 11.1.2.5
notarization, 11.7.6
optional acceptance and use, 11.1.2.4, 11.3.2, 11.3.4.2, 11.3.5.1
proof of signature, 11.7.4.6
replacing paper with, 11.1.2
sources of law, 1.3.4
state law requirements, effect, 11.7.6
UETA provisions, see UNIFORM ELECTRONIC TRANSACTIONS ACT (UETA)
verification and acknowledgment, 11.7.6
ELECTRONIC SIGNATURES IN GLOBAL AND NATIONAL COMMERCE ACT (E-SIGN ACT)
see also
application, 1.3.4, 11.2.1.3, 11.4
consumer transactions, 11.3.1
credit transactions, 11.2.1.2
federally regulated matters, 11.4.3.3
governmental agencies, 11.4.4.5, 11.5
interstate commerce, 11.2.1.3, 11.4.3.2
non-electronic transactions, 11.1.2.5
other rules of law, effect, 11.2.3
consumer protections, 11.3
comparison with UETA, 11.3.3
consent, 11.3.5
consumer definitions, 11.3.5.3
electronic disclosures, 11.3.7.2
overview, 11.3.2
record retention and integrity, 11.3.6, 11.6.2
violation, effect, 11.3.5.6
delivery of records, 11.6
described, 1.1.3
electronic disclosures
authorization, 11.1.3
requirements, 11.3.7.2
electronic signatures
authentication, 11.7.4.2
enforceability, 11.7.1
enactment, 11.1.1
exemptions, 11.2.2
UETA application, 11.2.2.2
GPEA, relationship, 11.5.4
overview, 11.1.3
preemption, 11.4.2
preemption roadmap, 11.4.4
rulemaking authority
agency regulations, 11.5.2
records format, 11.5.4
scope, 11.2.1
state law
digital signature laws, 11.7.3
displacement by, 11.4.5
preemption, 11.1.3, 11.4.2, 11.4.4
text, Appx. I.1
UCITA, relationship, 11.4.5.4.4
UETA, relationship, 11.1.4, 11.4
displacement by UETA, 11.4.2, 11.4.3, 11.4.5
preemption of UETA, 11.4.2, 11.4.4
ELECTRONIC TERMINALS
see AUTOMATED TELLER MACHINES (ATMs); POINT OF SALE (POS) TRANSACTIONS
ELECTRONIC TRANSACTIONS
see ELECTRONIC COMMUNICATIONS; ELECTRONIC FUND TRANSFERS (EFTs); ELECTRONIC RECORDS; ELECTRONIC SIGNATURES; INTERNET PAYMENT SYSTEMS; POINT OF SALE (POS) TRANSACTIONS
ELECTRONIC TRANSFER ACCOUNTS (ETAs)
see also EFT 99 PAYMENTS
ATM access, 9.5.5
balance inquiries, 9.5.5
bank setoffs, 10.2.2.3
closing, 9.5.8
described, 1.1.3
direct deposits
federal payments, 9.5
state benefits, 9.5.4
EFTA, application, 9.5.9
eligibility, 9.5.2
eligible deposits, 9.5.4
fees
generally, 9.5.5
interest-bearing accounts, 9.5.7
monthly fee, 9.5.5
other deposits, 9.5.4
other features, 9.5.7
overdrafts, 9.5.5, 9.5.6
POS access, 9.5.6
set-up fee, 9.5.5
finding institutions that offer, 9.5.3
garnishment, 9.5.7, 9.8
joint accounts, 9.5.2
legal protections, 9.5.9
non-financial institutions, 9.5.1
opening, 9.5.2
other account features, 9.5.7
overdrafts, 9.5.5, 9.5.6
overview, 9.5.1
POS access, 9.5.6
TISA, application, 9.5.9
withdrawals, 9.5.5
ELECTRONIC TRANSFER OF FUNDS
see ELECTRONIC FUND TRANSFERS (EFTs)
ELECTRONIC TRANSMISSION
see ELECTRONIC DELIVERY
ELECTRONICALLY CREATED PAYMENT ORDERS
see REMOTELY CREATED PAYMENT ORDERS
EMPLOYERS
see also WAGES
cash-dispensing machines, 4.10.2.2
direct payroll deposits, 5.2.2.3, 5.3.11
paycheck cashing fees, labor law violations, 4.6.4.2
payroll cards, see PAYROLL CARDS
ENDORSEMENTS
see INDORSEMENTS
EQUAL CREDIT OPPORTUNITY ACT (ECOA)
electronic disclosures, 11.3.7.3
ERRORS
account aggregation services, 5.14.3
ATMs, 5.10.3
bailment law and, 5.10.3.4
common law approaches, 5.10.3.3
EFTA procedures, 5.10.3.2
overview, 5.10.3.1
debit card purchases, 5.5.1.2
defined, 5.5.1.1
EBT accounts, 8.8
cash assistance errors, 8.8.3
model procedures, 8.8.4
SNAP errors, 8.8.2
electronic fund transfers, see under ELECTRONIC FUND TRANSFERS (EFTs)
international remittances, 6.5.2.4
prepaid cards, 7.2.12
ESTOPPEL
checks, unauthorized use, 3.10.4
ETAs
see ELECTRONIC TRANSFER ACCOUNTS (ETAs)
EXPEDITED FUNDS AVAILABILITY ACT (EFAA)
see also
electronic deposits, 5.6.1
overview, 4.5.1
preemption of state law, 4.5.1
prepaid cards, application, 4.5.2
Regulation CC, see REGULATION CC (EFAA)
scope, 4.5.2
violations, remedies, 4.5.10
EXPEDITED RE-CREDITS
see also CHECK 21 TRANSACTIONS
additional bank liability, 3.12.5.8
availability of funds, 3.12.5.5
format for claim, 3.12.5.4
FRB model notices, 3.12.5.7
prerequisites, 3.12.5.1
substitute check, 3.12.5.2
provisional re-credit, 3.12.5.5
reinvestigation rights, 3.12.5.1
rejection, 3.12.5.5
reversal of re-credit, 3.12.5.6
right to re-credit, 3.12.5.5
time frame for claim, 3.12.5.3
time frame for re-credit, 3.12.5.5
FAIR CREDIT BILLING ACT (FCBA)
see also
account aggregation errors, application, 5.14.3.3, 5.14.4.2
FAIR CREDIT REPORTING ACT (FCRA)
account aggregation services, application, 5.14.4.2
consumer reports, rights, 2.2
debit card receipts, 5.9.4
E-Sign Act, relationship, 11.4.3.3
FAIR DEBT COLLECTION PRACTICES ACT (FDCPA)
NSF fees, application, 5.3.6.1
post-dated payments, rules, 3.7.2.7, 5.3.10
remotely created checks, application, 3.13.4
repeat garnishments, application, 9.8.10
FAMILY LAW
E-Sign Act exemption, 11.2.2.1
FARMERS’ MARKETS
SNAP access, 8.5.1.2
FEDERAL AGENCIES
see GOVERNMENT AGENCIES
FEDERAL BANKING REGULATORS
CFPB, see CONSUMER FINANCIAL PROTECTION BUREAU (CFPB)
FDIC, see FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)
OCC, see OFFICE OF THE COMPTROLLER OF THE CURRENCY (OCC)
overdraft loan guidance, 2.6.3.5
prepaid card guidance, 7.2.3.3
credit features, 7.2.15.4
gift cards, 7.7.1.2
transaction processing order guidance, 2.6.3.9.2.3
FEDERAL BENEFITS PAYMENTS
attachment by creditors, 9.8, 10.2.8
bank setoff, 10.2.2.3, 10.2.8
Direct Express card, 9.6.2.5, 9.8.14
garnishment protections, Appx. H.3
Treasury rule protections, 9.8
waiver of exemptions, 9.8.11
EBT cards, transfer to, 9.7
EFT 99, see EFT 99 PAYMENTS
error in transmission, 9.9
nursing facility patients, 9.6.4
religious orders, 9.6.4
transfer methods
BSC card, 9.7
compulsory electronic transfer, see EFT 99 PAYMENTS
direct deposit, see DIRECT DEPOSITS
Direct Express card, see DIRECT EXPRESS CARD
ETAs, see ELECTRONIC TRANSFER ACCOUNTS (ETAs)
particular account not compulsory, 7.4.2.2
private label prepaid cards, 9.6.3
summary of, 9.2
unemployment compensation, 7.4.3, Appx. F.4
FEDERAL CREDIT UNIONS
deposit insurance, 7.2.14.2
state law preemption
“at par” statutes, 4.6.4.1
deposit accounts, 1.4.8
generally, 1.3.6, 1.4.1, 1.4.1a
subsidiaries, 1.4.3
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)
see also FEDERAL BANKING REGULATORS
bank payday loan guidance, 7.2.15.4
money order coverage, 6.2.6
overdraft loan guidance, 2.6.3.5.2
prepaid card coverage, 7.2.14
Direct Express card, 9.6.2.4
FDIC opinion, 7.2.14.2, Appx. F.2
OCC letter, Appx. F.3
transaction processing order, guidance, 2.6.3.9.2.3
FEDERAL PAYMENTS
see EFT 99 PAYMENTS; FEDERAL BENEFITS PAYMENTS
FEDERAL PREEMPTION
bank fees, 1.4.4, 1.4.7 , 4.6.4.1
challenges, 1.4.7.2.2
bank subsidiaries, affiliates and agents, 1.4.2
bank branches and facilities, establishment, 1.4.5a
case law, 1.4.7
other practices, 1.4.7.3
overdraft and NSF fees, 1.4.7.2, 1.4.7.2.1, 1.4.7.2.4, 1.4.7.2.5
overview, 1.4.7.1
Check 21 Act, 3.12.6.8
conflicts with state law, 11.4.6.4
credit unions, 1.4.8
deposit-taking, 1.4.3, 1.4.8
disclosure claims, 1.4.7.2.3
EBTs, 8.2.5
escheat laws, 7.7.7
EFAA, 4.5.1
EFTA, 5.1.4, 7.7.1.3
electronic services, 1.4.5
E-Sign Act, 11.1.3, 11.4.2, 11.4.6
digital signature laws, 11.7.3
reverse preemption, 11.4.2, 11.4.3, 11.4.4.3
roadmap, 11.4.4
explicit preemption, 11.4.6.2
garnishment orders, 9.8.15
processing time, 9.8.6
generally, 1.3.6, 1.4.1, 1.4.1a
implicit preemption, 11.4.6.3
interest rates, 1.4.4
OCC interpretive letters, 1.4.6
prepaid cards
credit features, 7.2.15.5.2
gift cards, 7.7.1.3, 7.7.7
government cards, 7.4.5
payroll cards, 7.3.5
TISA, 2.5
visitorial activities, 1.4.5b
FEDERAL REGULATORS
see FEDERAL BANKING REGULATORS
FEDERAL RESERVE BANKS
ACH Operator, Appx. H.2
checks drawn on, funds availability, 4.5.4.1
Circular 3 on electronic items, Appx. C.4, Appx. C.5
FEDERAL RESERVE BOARD (FRB)
Check 21 model notices, 3.12.4, 3.12.5.7
ECC pamphlet, Appx. E.4
EFAA
model forms, 4.5.9, 4.5.10
Regulation CC, see REGULATION CC (EFAA)
EFTA, Regulation E, 5.1.2
see also REGULATION E (EFTA)
electronic disclosure rules, 11.3.7.3
TISA, Regulation DD, see REGULATION DD (TISA)
FEDERAL SAVINGS ASSOCIATIONS
state law preemption, 1.3.6, 1.4.1, 1.4.1a
“at par” statutes, 4.6.4.1
FEDERAL TRADE COMMISSION (FTC)
electronic disclosures, practical analysis, 11.3.7.4
telemarketing rule, see TELEMARKETING SALES RULE (FTC)
FEES
account aggregation services, 5.14.5
disclosure in contract, 5.14.5.1
TISA requirements, 5.14.5.2
ATM fees, see ATM FEES
bank service charges, see BANK FEES
check-cashers, 4.10.2.3
Direct Express cards, 9.6.2.3
EBT payments, 8.6
ATM charges, 8.6.2.2, 8.6.3
balance inquiries, 8.6.5
cash benefits, 8.6.2, 8.6.3, 8.6.4
merchant fees, 8.6.6
POS charges, 8.6.4
QUEST guidelines, 8.2.2.1
replacement cards, 8.3.4.3, 8.6.1, 8.6.7
SNAP benefits, 8.6.1
EFTA, application, 1.3.2
electronic communications, withdrawal of consent
generally, 11.3.5.5.1
hardware or software change, 11.3.5.5.2
electronic fund transfers, 5.7
error investigations, 5.5.3
generally, 5.7.1
NSF and other fees, 5.7.3
overdrafts, 5.7.2
ETA accounts, 9.5.4, 9.5.5, 9.5.6, 9.5.7
garnishment fees, 9.8.17
interchange fees, see INTERCHANGE FEES
national banks, 1.4.4, 1.4.7
NSF fees, see NSF FEES
overdraft loans, see OVERDRAFT LOAN FEES
prepaid cards, 7.2.3.2, 7.2.7
cash withdrawal fees, 7.2.9
gift cards, 7.7.2
inactivity fees, 7.2.13
limits on other types of fees, 7.2.7.4
overdraft fees, 7.2.7.2
overview, 7.2.7.1
service charges, 7.2.7.3
FIDUCIARY DUTY
banks, 2.3.1
checks indorsed by persons having, 4.4.5
FINANCIAL INSTITUTIONS
see also BANKS; CARD NETWORKS;
access devices, see ACCESS DEVICES
account aggregation, see ACCOUNT AGGREGATION SERVICES
accounts with, see BANK ACCOUNTS
credit cards, see CREDIT CARDS
data breach, 5.4.11
debit cards, see DEBIT CARDS
defined, 5.15.3
deposit errors, 4.5a
EFTA, application, 5.15.3
electronic fund transfers, see ELECTRONIC FUND TRANSFERS (EFTs)
ETA accounts, see ELECTRONIC TRANSFER ACCOUNTS (ETAs)
NACHA rule violations, 5.15.6, 5.15.7
prepaid cards, issuance, 7.2.2
see also PREPAID CARDS
FOOD STAMPS
see SUPPLEMENTAL NUTRITION ASSISTANCE PROGRAM (SNAP)
FORGERY
see also FRAUD
cashier’s checks, 6.3.4
electronic signatures, 11.7.4.2
digital signatures, 11.7.3
money orders
payee’s name, 6.2.3.1.1, 6.2.3.2.1
purchaser’s name, 6.2.3.1.2
personal checks
authorized forgery, 3.6.3.1, 4.4.3.5.2
bank statement rule, 3.10.1
checklist, 3.3.1
counterfeit checks, 3.7.2.2.1
drawer’s signature, 3.6.3.1, 3.6.4.3, 3.7.2.2
imposter rule, 3.10.3
indorsements, 3.6.4.4, 3.7.2.3, 3.10.3, 4.4.3.1, 4.4.3.5.2
negligence rule, 3.10.2, 4.4.3.5.3
ratification, 3.10.4, 4.4.3.5.2
re-crediting account, 3.9.1, 3.10.1.1
reporting requirements, 3.10.1
remotely created checks, 3.7.2.2.2, 3.13.2.1
teller’s checks, 6.3.4
traveler’s checks, signatures, 6.4
FRAUD
see also FORGERY; SCAMS
NACHA anti-fraud investigations, 5.3.9
FREEZES
see also GARNISHMENT
bank accounts, see under BANK ACCOUNTS
EBT cards
incorrect PIN entries, 8.7.4
lost or stolen, 8.7.3.2
prepaid cards, 7.2.10
federal benefits, 9.8.3
FTC TELEMARKETING RULE
see TELEMARKETING SALES RULE (FTC)
FUNDS AVAILABILITY
see also EXPEDITED FUNDS AVAILABILITY ACT (EFAA)
account holds, 4.5.11
applicable law, 4.5.1
bank’s policies, 4.5.9
case-by-case extensions, 4.5.9
banking day, 4.5.3
cash deposits, 4.5.2a
cut-off hour, 4.5.3, 4.5.8.2
debit card holds, 4.5.11, 5.9.2
deposit holds, 5.6.1
direct deposits, 4.5.4.1, 5.6.1
dishonored checks, 3.8.4.4, 3.8.4.5
processing order, effect, 2.6.3.9, 3.8.4.5
electronic deposits, 4.5.2b, 4.5.4.1, 5.6.1
expedited availability, fees, 2.6.5
expedited re-credits, after, 3.12.5.5
federal rules, 4.5
ATM deposits, 4.5.4.1, 4.5.8
availability schedule, 4.5.3
disclosure requirements, 4.5.9
doubtful collectability, 4.5.7.2
emergency cases, 4.5.7.4
fifth-day availability, 4.5.5, 4.5.8.1
generally, 4.5.1
large deposits, 4.5.7.5
new accounts, 4.5.7.1
next-day availability, 4.5.4
not-in-person deposits, 4.5.8
notice requirements, 4.5.7.6, 4.5.9
one day extension for certain withdrawals, 4.5.6
reasonable extension for exceptions, 4.5.7.6
re-deposited checks, 4.5.7.5
Regulation CC, see REGULATION CC (EFAA)
repeated overdrafts, 4.5.7.3
second-day availability, 4.5.5, 4.5.8.1
scope, 4.5.2
violations, remedies, 4.5.10
garnishment orders, effect, 4.5.11
local checks, 4.5.3
next-day availability, 4.5.4
certain deposits, 4.5.4.1
limited dollar amount, 4.5.4.2
prepaid cards, 7.2.10
prior to check clearing, 4.5.1
state law, 4.5.1
time, 4.5.3
UCC rules, 4.5.1
GARNISHMENT
see also FREEZES
bank accounts
commingled funds, 9.8.8, 10.2.8.3
continuing garnishments, 9.8.10
exemptions, asserting, 9.8.7
federal benefits, 9.8
fees, 9.8.17
freezes, restrictions, 4.5.11, 9.8.1
joint accounts, 9.8.5
repeat garnishments, 9.8.10
security interest alternative, 10.3
temporary freezes, 9.8.7
timing, 9.8.6
child support debts, 9.8.12
exempt funds, 9.8, 10.2.8.2
advising clients, 9.8.13
bank setoff, 9.8.17, 10.2.8.4
commingling, 10.2.8.3
debtor’s obligation, 9.8.7
exceptions, 9.8.12
protecting exempt funds, Appx. H.3
waiver of exemption, 9.8.11
federal benefits
Direct express card, 9.6.2.5, 9.8.14
ETA accounts, 9.5.7
exempt funds, 10.2.8.2
protecting exempt funds, Appx. H.3
state protections, 9.8.16
Treasury rule, 9.8
federal government, debts to, 9.8.12
garnishment order, defined, 9.8.4
state benefits, 10.2.8.2
state child support agency, debts to, 9.8.12
state protections, 9.8.16
Treasury rule protections, 9.8
account review, 9.8.5, 9.8.6
advising clients, 9.8.13
bank fees, 9.8.17
commingled funds, 9.8.8
continuing garnishments, 9.8.10
covered accounts, 9.8.3
covered benefits, 9.8.2
covered seizures, 9.8.4
Direct Express cards, 9.8.14
exception for certain debts, 9.8.12
lump-sum payments, 9.8.9
operation of rule, 9.8.5
overview, 9.8.1
preemption of state law, 9.8.6, 9.8.15
repeat garnishments, 9.8.10
role of state protections, 9.8.16
social security benefits, 9.8.12.3
SSI benefits, 9.8.12.2
temporary freezes, 9.8.7
transferred funds, 9.8.9
VA benefits, 9.8.12.2
waiver, 9.8.11
GAS STATIONS
see MERCHANTS
GIFT CARDS AND CERTIFICATES
see also ;
agreement, the, 7.7.1.5
applicable law, 7.7.1
EFTA, 7.2.3.3, 7.7.1.1, 7.7.2.1, 7.7.3.1
federal regulatory guidance, 7.7.1.2
state law preemption, 7.7.1.3
checklist, 1.2.3
closed-loop card, 7.1
deceptive marketing practices, 7.7.6
defective cards, 7.7.4
defined, 7.7.1.1
disclosures, 7.7.2.1, 7.7.3.1
expiration, 7.2.13, 7.7.3
Regulation E, 7.7.3.1
state law, 7.7.3.2
fees, limits on, 7.7.2
EFTA, 7.7.2.1
state law, 7.7.2.2
insolvency of issuer or store, 7.7.8
consumer obligation, 7.7.8.1
consumer remedies, 7.7.8.2
lost or stolen cards, 7.7.5
merchant acceptance, effect, 7.7.8.1
“split-tender” transactions, 7.7.6
state law, 7.7.1.3, 7.7.1.4, 7.7.2.2, 7.7.3.2, 7.7.7
terms, 7.7.1.5
unauthorized use, 7.7.5
unused value
escheat laws, 7.7.7
redemption, 7.7.3
GOOD FAITH
account aggregators, 5.14.2.5
accord and satisfaction, 3.11, 4.9.1
bank’s underlying duty, 2.3.2
checks, 3.4.3, 3.10.1.4
waiver, 3.4.4
defined, 3.4.3, 3.5.3.4
holder in due course, 3.5.3.4, 3.9.2, 4.8.3
ordinary care distinguished, 3.4.3
UCC duty, 2.3.2, 3.4.3
GOODS AND SERVICES
see MERCHANTS
GOVERNMENT AGENCIES
see also GOVERNMENT BENEFITS PAYMENTS
defined, 9.3.1
EFTA application, 5.1.3.4, 8.2.3
electronic benefits payments
federal benefits, see EFT 99 PAYMENTS
state-administered benefits, see ELECTRONIC BENEFITS TRANSFER (EBT)
electronic records and signatures, regulations, 11.5.2
standards and format, 11.5.4
E-Sign Act, application, 11.4.4.5, 11.5
federal law violations, 8.2.5
garnishment rights, 9.8.12
GPEA, application, 11.5.4
prepaid cards, issuance, see GOVERNMENT-ISSUED PREPAID CARDS
UETA, application, 11.5.1, 11.5.3
GOVERNMENT BENEFITS PAYMENTS
attachment by creditors, exempt benefits
bank setoff, 10.2.2.3, 10.2.8
commingling, effect, 10.2.8.3
federal benefits, 9.6.2.5, 10.2.2.3, 10.2.8.2
state benefits, 10.2.8.2
EFTA, application, 5.1.3.4, 8.2.3
electronic payments
compulsory, 8.1.1
direct deposits, see DIRECT DEPOSITS
non-compulsory, 5.2.2.3, 5.3.11, 7.2.4, 7.4.2.2
prepaid cards, see GOVERNMENT-ISSUED PREPAID CARDS
vendor contracts, 8.2.2
federal benefits, see EFT 99 PAYMENTS; FEDERAL BENEFITS PAYMENTS
prepaid cards, see GOVERNMENT-ISSUED PREPAID CARDS
private enforcement of regulatory violations, 8.2.5
SNAP, see SUPPLEMENTAL NUTRITION ASSISTANCE PROGRAM (SNAP)
state-administered, see ELECTRONIC BENEFITS TRANSFER (EBT); STATE-ADMINISTERED BENEFITS
TANF, see TEMPORARY ASSISTANCE FOR NEEDY FAMILIES (TANF)
unemployment compensation, 7.4.3, Appx. F.4
GOVERNMENT CHECKS
see also CHECKS; UNITED STATES TREASURY
funds availability, 4.5.4.1
United States Treasury, 4.5.4.1, 4.5.8.1
GOVERNMENT-ISSUED PREPAID CARDS
see also ;
account statements, 7.2.11, 7.4.2.3
applicable law, 7.2.3.1, 7.2.3.3, 7.4.2, 7.4.4
state laws, 7.4.5
BSC cards, 9.7
disadvantages, 7.4.1
disclosures, 7.2.5, 7.4.2.3
EBT card, see ELECTRONIC BENEFITS TRANSFER (EBT) CARDS
EFTA, application, 7.4.2
modifications, 7.4.2.3
federal “direct express” card, see DIRECT EXPRESS CARD
fees
interchange fees, 7.2.3.2.3, 7.4.4
limits on, 7.2.7.4
garnishment protections, 9.8.3
issuance, 5.2.2.3
loading 7.2.8
overview, 7.4.1
pro-consumer negotiated terms, 7.4.6
non-compulsory, 5.2.2.3, 5.3.11, 5.7.4, 7.4.2.2
student cards, see COLLEGE PREPAID CARDS
unemployment compensation, DOL guidance, 7.4.3, Appx. F.4.2
Labor Secretary’s letter, Appx. F.4.1
GOVERNMENT PAPERWORK ELIMINATION ACT (GPEA)
application and purpose, 11.5.4
GOVERNMENT PAYMENTS
benefits payments, see GOVERNMENT BENEFITS PAYMENTS
checklist, 1.2.4
direct deposits, see DIRECT DEPOSITS
prepaid card deposits, see GOVERNMENT-ISSUED PREPAID CARDS
GRAMM-LEACH-BLILEY ACT
account aggregation, application, 5.14.4.1
check cashers, application, 4.10.3
GROUP LIVING FACILITIES
EBT access, 8.9.8
federal benefits payments, 9.6.4
HOLDERS IN DUE COURSE
becoming a holder, 3.5.2
defenses assertable against, 3.5.7.2
payee as, 3.5.4
rights of, 3.5.7
shelter rule, 3.5.5
status as, 3.5.3
burden of proof, 3.5.6
effect, 3.5.3.1, 3.5.7.1
good faith, 3.5.3.4
holder, 3.5.3.2
notice, 3.5.3.5
value, 3.5.3.3
HOLDS ON FUNDS
see FREEZES; FUNDS AVAILABILITY
HOME OWNERS LOAN ACT (HOLA)
state law preemption, 1.3.6, 1.4.1, 1.4.1a
HOMELESS PERSONS
EBT access, 8.9.7
group homes and meal providers, 8.9.8
SNAP benefits, 8.9.7
assistance by state agency, 8.9.7.4
authorized representative, 8.9.7.4
mailing address not required, 8.9.7.2
timely, accurate and fair service, 8.9.7.3
IDENTIFICATION
bank’s right to require, 3.7.3, 4.6.3
imposter rule, 3.10.3
PINs, see PERSONAL IDENTIFICATION NUMBERS (PINs)
prepaid card activation, 7.2.3.3, 7.2.6
IDENTITY THEFT
electronic signatures, 11.7.4.1
ILLITERATE PERSONS
EBT access, 8.9.9
IMPOSTER RULE
checks, 3.10.3
INDORSEMENTS
blank indorsement, 3.5.2.1, 3.6.4.4, 3.7.2.3
checks payable to order of, 3.5.2.1, 4.4.3.1
forged, 3.6.4.4, 3.7.2.3, 3.10.3, 4.4.3.1
see also FORGERY
agent of payee, 4.4.3.5.2
bank’s obligations, 3.9.1
chain of title broken, 3.5.2.1, 4.4.3.1
employee of payee, 4.4.3.5.4
imposter rule, 3.10.3
negligence rule, 4.4.3.5.3
obligations of indorser, 3.6.5, 3.8.3.3, 4.7.3, 4.8.2
discharge, 4.8.1
presentment after, time, 3.8.3.3
restrictive indorsements, 4.4.4
special indorsement, 3.5.2.1
stolen checks, 3.3.3.2
trustee or other fiduciary, 4.4.5
traveler’s checks, 6.4
INFORMATION
see DATA
INSOLVENCY
see also BANKRUPTCY STAY
bank setoffs, 10.2.2.2
money order issuer, 6.2.6
money transmitters, 6.6.3.5
prepaid card issuer, 7.2.14
deposit insurance coverage, 7.2.14.2
gift cards, 7.7.8
overview, 7.2.14.1
INSTRUMENTS
see NEGOTIABLE INSTRUMENTS
INTEREST RATES
deposit accounts
calculations, 2.4.5
disclosures, 2.4.2.2, 2.4.4
national banks, 1.4.3
INTERCHANGE FEES
federal regulation, 5.9.3.1, 7.2.3.2
litigation involving, 5.9.3
overview, 5.9.3.1
prepaid cards, 7.2.3.2
conditions on exemption, 7.2.3.2.4
general-use prepaid cards, 7.2.3.2.2
government-administered cards, 7.2.3.2.3
overview, 7.2.3.2.1
payroll cards, 7.3.3
state law, 5.9.3
INTERNATIONAL REMITTANCES
see also REMITTANCES
applicable laws
contract law, 6.5.3.1
EFTA, 6.5.2
state and local laws, 6.5.3.2
disclosure requirements, 6.5.2.3
EFTA protections, 6.5.2
disclosure requirements, 6.5.2.3
effective date, 6.5.2.5
error resolution, 6.5.2.4
overview, 6.5.2.1
scope, 6.5.2.2
unauthorized transfers, 6.5.2.4.2
error resolution requirements, 6.5.2.4
errors covered, 6.5.2.4.1
procedures, 6.5.2.4.2
forms of remittances, 6.5.1.1
mobile transfers, 6.5.1.1
money orders, see MONEY ORDERS
prepaid cards, 6.5.1.1
wire transfers, see WIRE TRANSFERS
issues presented by, 6.5.1.2
money laundering restrictions, 6.5.1.1
overview of market, 6.5.1.1
INTERNET BANKING
see also ACCOUNT AGGREGATION SERVICES; ; MOBILE BANKING; TELEPHONE BANKING
checklist, 1.2.2
EFTA, application, 5.1.3.8.1
preauthorized transfers, see PREAUTHORIZED ELECTRONIC FUND TRANSFERS
INTERNET LOANS
payday loans, 5.8.6
INTERNET PAYMENT SYSTEMS
see also ; ; REMITTANCES
access devices, see ACCESS DEVICES
account aggregation, see ACCOUNT AGGREGATION SERVICES
authorization requirements, 5.3.3
checklist, 1.2.2
EFTA, application, 5.1.3.5, 6.6.2
NACHA rules, 5.3.3
P2P transfers, 6.6.1
state money transmitter laws, application, 6.6.3.1
virtual cards, see VIRTUAL CARDS
INTERSTATE COMMERCE
E-Sign Act, application, 11.2.1.3, 11.4.3.2
INVESTIGATIONS
account aggregation errors, 5.14.3.3
electronic fund transfer errors
completion of investigation, 5.5.5
duty to investigate, 5.5.3
examination of third party information, 5.5.4
extension of investigation period, 5.5.6, 5.5.7
notice to investigate, 5.5.2
post-investigatory procedures, 5.5.8
report of findings, 5.5.9
NACHA anti-fraud investigations, 5.3.9
ITEMS
see also CHECKS;
checks, inclusion in term, 3.2.1.1
defined, 3.2.1.1
JOINT ACCOUNTS
see also BANK ACCOUNTS
access devices, 5.2.2.2
bank setoff, 10.2.6.1, 10.2.7.3
closing, right to close, 2.7.2
EFTA disclosures, 5.2.3.1
ETA accounts, 9.5.2
garnishment, 9.8.5
overdrafts, liability, 3.7.2.9, 5.7.2.3
JURISDICTION
EFTA actions, 5.15.5
LANGUAGE
EBT materials, 8.4.2, 8.9.10
LAUNDERING OF MONEY
prepaid card identification requirements, 7.2.3.3, 7.2.6
restrictions on international money transfers, 6.5.1.1
LIABILITY
account aggregators
bank’s liability for, 5.14.2.7, 5.14.2.8
breach of contract, 5.14.2.5
credit card accounts, 5.14.2.4
disclaimers, 5.14.2.6
EFTA application, 5.14.2.3.1
security breaches, 5.14.2.5
unauthorized transfers, 5.14.2.3.2, 5.14.2.4
Check 21 transactions, 3.12.5.8, 3.12.6.1, 3.12.6.4, 3.12.6.5
check-cashers, 4.10.2.4
EFTA violations, 5.15.3
electronic fund transfers, unauthorized, 5.4
account aggregation, 5.14.2.3.2, 5.14.2.4
bank’s responsibility in absence of consumer notice, 5.4.6a
bona fide errors, 5.8.2.1, 5.10.2.3, 5.15.2, 5.15.3
consequential damages, 5.4.10
consumer negligence, effect, 5.4.3
duty to report, 5.4.5, 5.4.6
immediate re-credit, 5.4.9
limits on liability, 5.4.4, 5.4.5.2, 5.4.7, 5.4.8
unlimited liability, 5.4.5.3
waiver of liability limits, 5.4.3
issuer insolvency
money orders, 6.2.6
prepaid cards, 7.2.14
lost or stolen debit cards, 5.4.4.2, 5.4.4.3, 5.4.8
personal checks
bank statement rule, 3.10.1
forged indorsements, 3.6.4.4, 3.7.2.3, 3.10.3, 4.4.3.5.1
imposter rule, 3.10.3
incomplete or altered checks, 3.6.4.2
lost or stolen checks, 4.3, 4.4
missing or forged signature, 3.6.4.3, 3.7.2.2
negligence rule, 3.10.2
not properly payable, 3.7.2.1, 4.8
NSF checks, 2.6.4, 3.8.4.3, 4.7
payee’s liability, 4.7.0, 4.8
post-dated, premature payment, 3.7.2.7
signature required, 3.6.3.1
warranties, 3.9.3, 4.7.4, 4.8.2
wrongful dishonor, 3.7.3
remotely created checks, 3.7.2.2.2, 3.13.3, 3.13.4
remotely created payment orders, 3.13.5
traveler’s checks, lost or stolen, 6.4
LICENSES
check-cashers, 4.10.2.1
money transmitters, 6.6.3.2
LIENS
see BANKER’S LIEN; SECURITY INTERESTS
LIMITATIONS
see STATUTE OF LIMITATIONS; TIME LIMITS
LOAN PAYMENTS
see DEBTS
LOST OR STOLEN CARDS OR CHECKS
access devices
liability, 5.4.4, 5.4.8
reporting, 5.4.4.2, 5.4.4.3
cashier’s checks
forgery of payee’s name, 6.3.4
replacement or refund, 6.3.5
conversion claims, 4.4.3.5
bearer paper, 4.4.2
definition of conversion, 4.4.3.5.1
generally, 4.4.3.5.1
liability, 4.4.3.5.1
order paper, 4.4.3.5
restrictive indorsements, 4.4.4
statute of limitations, 4.4.3.5.1
digital signatures, 11.7.3
EBT cards, 8.3.4, 8.7.3
cash benefits, 8.7.3.3
incorrect PIN entries, 8.7.4
smart cards, 8.7.3.5
SNAP, 8.7.3.2
state practices, 8.7.3.4
money orders, 6.2.3
bank money orders, 6.2.3.2
personal money orders, 6.2.3.1
stop payments, 6.2.4
payee, from, 3.3.3, 4.4
after payee indorses in blank, 3.3.3.3
after payee restrictive indorses it, 4.4.4
after payee specially indorses it, 3.3.3.2
before payee indorses it, 3.3.3.1, 4.4.3.7
enforcement against drawer, 4.4.3.4, 4.4.3.6
remedies, 4.4.2, 4.4.3
personal checks
bearer paper, 4.4.2
before delivery to payee, 4.3
order paper, 4.4.3
payee, from, 3.3.3, 4.4
restrictive indorsements, 4.4.4
stop payments, 3.7.2.4
prepaid cards, 7.2.12
gift cards, 7.7.5
teller’s checks
forgery of payee’s name, 6.3.4
replacement or refund, 6.3.5
traveler’s checks, 6.4
UCC, application, 6.2.3.2.2
MAGNETIC INK CHARACTER RECOGNITION (MICR)
checks, 3.2.1.2
MASTERCARD
see CARD NETWORKS; CREDIT CARDS
MENTALLY ILL PERSONS
see also DISABLED AND SPECIAL-NEEDS PERSONS
EBT access, 8.9.6
MERCHANTS
see also TELEMARKETERS
anti-fraud measures, 5.3.9
cash-back transactions, 8.6.4.1, 8.6.4.3
cash payment discounts, 5.9.3.1
check acceptance, accord and satisfaction, 3.11
debt card holds, 4.5.11, 5.9.2
debit card purchase disputes, 5.5.1.2
debit card receipts, 5.9.4
debit or credit card surcharges, 5.9.3.1
EBTs
errors, reimbursement, 8.8.2.2, 8.8.2.3
manual alternatives, 8.5.3
participation costs, 8.6.6
SNAP benefits, 8.5.1, 8.6.6
surcharges, 8.2.2.1
electronic payment, see POINT-OF-SALE (POS) TRANSACTIONS
interchange fees, see INTERCHANGE FEES
NACHA investigations, 5.3.9
OCC bulletin on payment processors, Appx. D.2
prepaid cards, see GIFT CARDS AND CERTIFICATES; PREPAID CARDS
security audits, 5.3.9
“split-tender” transactions, 7.7.6
MISTAKES
see ERRORS
MOBILE BANKING
see also ; ; TELEPHONE BANKING
access devices, see ACCESS DEVICES
defined, 1.1.3, 5.13, 7.8
EFTA, application, 5.13
MOBILE PAYMENTS
see also ; MOBILE BANKING; REMITTANCES
account aggregation, see ACCOUNT AGGREGATION SERVICES
apps
see also ACCESS DEVICES
prepaid card status, 7.8
authorization requirements, 5.3.3
checklist, 1.2.3
defined, 1.1.3, 5.13, 7.8
EFTA, application, 5.1.3.6, 5.3.2.1
holds, 7.2.10
international money transfers, 6.5.1.1
overview, 5.13, 7.8
NACHA rules, 5.3.3
state money transmitter laws, application, 6.6.3.1
WEB transactions, 5.3.3
MOBILE WALLETS
see ACCOUNT AGGREGATION SERVICES
MONEY LAUNDERING
see LAUNDERING OF MONEY
MONEY ORDERS
see also REMITTANCES
bank money orders
distinguished, 6.2.2
lost or stolen, 6.2.3.2
refunds, 6.2.3.2.2
replacing, 6.2.3.2.2
scams, 6.2.9
stop payments, 6.2.4.3
checklist, 1.2.3
checks distinguished, 6.2.1
debts, payment by, 6.2.7
insolvency of issuer, 6.2.6
international money orders, 6.5
lost or stolen, 6.2.3
bank money orders, 6.2.3.2
forgery of purchaser’s name, 6.2.3.1.2
forgery of payee’s name, 6.2.3.1.1, 6.2.3.2.1
personal money orders, 6.2.3.1
obligation to pay, 6.2.5
overview, 6.2.1
personal money orders
distinguished, 6.2.2
lost or stolen, 6.2.3.1
stop payments, 6.2.4.2
postal money orders, 6.2.10
scams, 6.2.9
state regulation, 6.2.8
stop payments, 6.2.4
bank money orders, 6.2.4.3
need to, 6.2.4.1
personal money orders, 6.2.4.2
wrongful dishonor, 6.2.5
MONEY TRANSMITTER LAWS (STATE)
see also REMITTANCES
bonding requirements, 6.6.3.2, 6.6.3.5
cancellations, 6.6.3.4
disclosure requirements, 6.6.3.3
enforcement, 6.6.3.6
insolvency of transmitter, 6.6.3.5, 7.2.14.1
international remittances, application, 6.5.3.2
investment requirements, 6.6.3.2
licensing requirements, 6.6.3.2
money orders, application, 6.2.8
overview, 6.5.3.2, 6.6.3.1
prepaid cards, application, 7.2.14.1
refunds of funds not transmitted, 6.6.3.4
scope, 6.6.3.1
theft protections, 6.6.3.5
MULTI-FUNCTION CARDS
see also ;
EFTA, application, 5.1.3.6
NATIONAL AUTOMATED CLEARING HOUSE ASSOCIATION (NACHA)
ACH system, see ACH (AUTOMATED CLEARING HOUSE) SYSTEM
anti-fraud investigations, 5.3.9
consumer complaints, 5.15.7
data breach notice, 5.4.11
described, 1.1.3, 5.1.5.1
direct deposit bulletin, 5.6.2
EBT QUEST guidelines, 8.2.2.1
error resolution, 8.8.1, 8.8.2.2, 8.8.3
rules and guidelines
application, 1.3.3, 5.1.5.1
ARCs, 5.11.2.1
BOCs, 5.11.2.2
data breaches, 5.4.11
debit card purchases, 5.5.1.2
debits from consumer accounts, 5.3a
direct deposits, 5.6.1
ECCs, 5.1.5.4 , 5.3.4.2, 5.11.2, 5.11.3
electronic signatures and records, 5.1.5.6
EFTs, 5.1.5, 5.3.1
high-risk originators, E.6.2
payday loans, 5.3.8, 5.8.6.3
POPs, 5.11.2.2
RCKs, 3.8.5, 5.1.3.8.3, 5.1.5.5, 5.3.5, 5.12
recurring transfers, 5.8.2.2, 5.8.6.3
reinitiation of debit entries, E.6.1S
return fees, 5.3.6.2, 5.12.3.2
stop payments, 5.3.7, 5.3.7.1, 5.3.7.2
TELs, 5.3.2.2
unauthorized debits, 5.4.2.2, 5.4.9
violations, 5.15.6, 5.15.7
WEBs, 5.3.3
terminology, 5.1.5.3
ECCs, 5.1.5.4
NATIONAL BANKS
see also BANKS
electronic disclosures, 11.3.7.5
OCC bulletin on payment processors, Appx. D.2
state law preemption
“at par” statutes, 4.6.4.1
case law, 1.4.7
deposit-taking, 1.4.3
electronic services, 1.4.5
fees, charges, and interest, 1.4.4, 1.4.7.2, 1.4.7.2.1, 1.4.7.2.4, 1.4.7.2.5, 4.6.4.1
generally, 1.3.6, 1.4.1, 1.4.1a
subsidiaries, affiliates, agents, 1.4.2
NATIONAL CREDIT UNION SHARE INSURANCE FUND
prepaid cards, application, 7.2.14.2
NEGLIGENCE
banks
chargebacks without notice, 4.7.2
common law application, 3.4.5
ordinary care duty, 3.10.1.4
Check 21 transactions, comparative negligence, 3.12.6.7
checks, unauthorized use, 3.10.2, 4.4.3.5.3
electronic fund transfers, unauthorized, 5.4.3
money orders, lost or stolen, 6.2.3.1.1, 6.2.3.2.1
NEGOTIABLE INSTRUMENTS
checks, status as, 3.2.1.1
drafts, see DRAFTS
generally, 3.2.1.1
notes, see NOTES
UCC application, 1.3.1, 3.2.1.1
NON-CHECK E-CHECKS
see REMOTELY CREATED PAYMENT ORDERS
NOT SUFFICIENT FUNDS (NSF)
see also OVERDRAFTS
chargebacks to payee, 4.7.2
checklists, 1.2.2, 3.3.5
determining whether there is sufficient funds
processing order, 2.6.3.9
rules, 3.8.4.5
time, 3.8.4.4
dishonor by bank, 3.3.5, 3.7.2.9
determining whether, 4.7.1
wrongful dishonor, 3.7.3
EBT transactions, 8.8.2.3
electronic fund transfers, 5.7.3
fees, see NSF FEES
holds, due to, 3.7.3, 4.5.11
liability, 2.6.4, 3.8.4.3, 4.7
chargebacks, 4.7.2
drawer’s obligation, 4.7.6.2, 4.7.6.3
indorser’s obligation, 4.7.3
scams, 4.7.5
transfer warranties, 4.7.4
overdraft protection, see OVERDRAFT LOAN FEES
payee’s rights, 4.7.6
payee’s liability, 4.7.0
re-presentment of check, 3.8.5
POP transactions, 3.8.5
scams, 3.3.7
payee liability, 4.7.5
underlying debt revived, 3.6.2, 3.8.4.3, 4.6.2, 4.7.6.3
NOTARIZATION
electronic signatures, 11.7.6
NOTES
see also NEGOTIABLE INSTRUMENTS
generally, 3.2.1.1
NOTICE
see also DISCLOSURES
bank setoff, 10.2.5
Check 21 substitute checks
consumer awareness notice, 3.12.4
expedited re-credit, rejection, 3.12.5.5
FRB model notices, 3.12.4, 3.12.5.7
data breach, 5.4.11
dishonored checks, 3.5.3.5.2, 3.6.4.1, 3.8.4.1, 3.8.4.3, 4.7.3
chargebacks, 4.7.2
NSF fees, 3.8.5, 5.3.6
electronic fund transfers
ATM fees, 5.10.1.1
change in disclosure terms, 5.2.4.1
direct deposits, 5.2.4.3
electronic communication, 5.2.6
error resolution procedures, 5.2.4.2
errors, 5.5.2
lost or stolen cards, 5.4.42, 5.4.4.3
NSF fees, 5.3.6
overdraft loan fees, 5.7.2.3
preauthorized transfer, variable amount, 5.8.3
unauthorized transfers, 5.4.5, 5.4.6, 5.4.6a
electronic notices
see also ELECTRONIC COMMUNICATIONS
delivery, see ELECTRONIC DELIVERY
EFTA disclosures, 5.2.6
E-Sign Act, application, 11.2.2.2
ETA accounts, exemption rights, 9.5.7
forged or altered checks, time, 3.10.1
failure to report, 3.10.1.3.1, 3.10.1.5
first alteration or forgery, 3.10.1.3.2
subsequent alteration or forgery, 3.10.1.3.3
funds availability
ATM deposits, 4.5.8.2
bank’s policies, 4.5.9
extra time for exceptions, 4.5.7.6
holders in due course, 3.5.3.5
check overdue or dishonored, 3.5.3.5.2
claim to instrument, 3.5.3.5.3
defense or recoupment claim, 3.5.3.5.4
lost or stolen access devices, 5.4.4.2, 5.4.4.3
NSF fees, 3.8.5, 5.3.6
oral notices, 11.3.6.2
post-dated checks, 3.7.2.7.1
re-presentment of bounced checks, 3.8.5
NSF CHECKS
see NOT SUFFICIENT FUNDS (NSF); NSF FEES
NSF FEES
see also
authorization to collect, 3.8.5
electronic collection, 5.12.3
EFTA, application, 5.1.3.8.1, 5.3.6.1
NACHA requirements, 5.3.6.2, 5.12.3.2
electronic fund transfers, 5.7.3
national banks, 1.4.7.2, 1.4.7.2.1, 1.4.7.2.4, 1.4.7.2.5
overview, 2.6.4
student accounts, 2.6.3.5.5
transaction processing order, effect, 2.6.3.9, 3.8.4.5
check vs. electronic transactions, 2.6.3.9.2.1
legal standards, 2.6.3.9.2
NURSING HOMES
see GROUP LIVING FACILITIES
OFFICE OF THE COMPTROLLER OF THE CURRENCY (OCC)
see also FEDERAL BANKING REGULATORS
account aggregation services, privacy guidance, 5.14.4.1
overdraft loans, guidance, 2.6.3.5.3
enforcement actions, 2.6.3.5.3.2
guidance and interpretive letters, 2.6.3.5.3.1
payment processors, guidance, Appx. D.2
preemption regulations
deposit-taking, 1.4.3
Dodd-Frank Act restrictions, 1.3.6, 1.4.1, 1.4.1a
electronic services, 1.4.5
fees, charges, and interest, 1.4.4, 1.4.7.2.2
interpretive letters, 1.3.6.6
prepaid card guidance, 7.2.3.3
bank deposit advance products, 7.2.15.4
FDIC insurance, Appx. F.3
gift cards, 7.7.1.2
payroll cards, 7.3.4
transaction processing order, guidance, 2.6.3.9.2.3
OFFICE OF THRIFT SUPERVISION (OTS)
abolition, 1.3.6, 1.4.1, 1.4.1a
overdraft loan guidance, 2.6.3.5.3
ON-LINE BANKING
see INTERNET BANKING
ORAL COMMUNICATIONS
electronic record status, 11.3.6.2
ORDER PAPER
see also CHECKS
determining status, 4.4.1
importance, 4.4.1.1
issuance, at, 4.4.1.2
lost or stolen, when, 4.4.1.3
rights if lost or stolen, 4.4.3
conversion claim, 4.4.3.5.1
enforcement of check, 4.4.3.4, 4.4.3.6
generally, 4.4.3.1
new check, 4.4.3.2
recovery of check, 4.4.3.3
restrictive indorsements, 4.4.5
transfer of title, 3.5.2.1, 3.5.2.2, 4.4.3.1
warranties, 4.7.4
trustee or other fiduciary, indorsement by, 4.4.5
ORDER TO PAY
see CHECKS; DRAFTS
ORDINARY CARE
account aggregators, 5.14.2.5
bank’s underlying duty, 2.3.2, 3.4.3
ATM deposits, 5.10.3.4
checks, 3.4.3, 3.10.1.4, 3.10.2, 3.10.3, 4.4.3.5.3
waiver, 3.4.4
bank customer’s duty, 3.10.2, 4.4.3.5.3
defined, 3.4.3
good faith distinguished, 3.4.3
payee’s duty, 4.4.3.5.3
UCC duty, 2.3.2, 3.4.3
OVERDRAFT LOAN FEES
see also OVERDRAFTS
ATM withdrawals, 5.7.2.2
notice of program, 5.7.2.3
bank supervisory guidance, 2.6.3.5
described, 2.6.3.2
EFTA regulation, 2.6.3.4, 5.7.2.1
EFTs, 5.7.2
consumer opt-in, 5.7.2.2–5.7.2.4
notice requirements, 5.7.2.3
regulation, 2.6.3.3, 2.6.3.4, 5.7.2.1
ETA accounts, 9.5.5, 9.5.6
national banks, 1.4.7.2, 1.4.7.2.1, 1.4.7.2.4, 1.4.7.2.5, 2.6.3.5
prepaid cards, 7.2.3.2.4, 7.2.7.2
state law, application
credit statutes, 2.6.3.7
other laws, 2.6.3.8
TILA, application, 2.6.3.6
TISA regulation, 2.6.3.3, 5.7.2.1
transaction processing order, effect, 2.6.3.9
check vs. electronic transactions, 2.6.3.9.2.1
legal standards, 2.6.3.9.2
OVERDRAFTS
see also
ATM, consumer opt-in, 5.7.2.2
automatic transfers from other accounts, 5.1.3.7
bank’s obligations, 3.7.2.9
debit card, consumer opt-in, 5.7.2.2
EBT transactions, 8.8.2.3
EFTs, 5.7.2
ETA accounts, 9.5.5, 9.5.6
federal banking regulation, 2.6.3.5
2005 joint guidance, 2.6.3.5.1
2010 FDIC guidance, 2.6.3.5.2
2012 CFPB request for information, 2.6.3.5.4
OCC and OTS actions, 2.6.3.5.3
fees, see NSF FEES; OVERDRAFT LOAN FEES
protection plans, see OVERDRAFT LOAN FEES
repeated overdrafts, funds availability, 4.5.7.3
state law, application, 2.6.3.7, 2.6.3.6
TILA, application, 2.6.3.6
TISA, application, 2.6.3.3
wrongful dishonor, 3.7.3
P2P TRANSFER SERVICES
see PERSON-TO-PERSON (P2P) TRANSFER SERVICES
PATRIOT ACT (USA)
see USA PATRIOT ACT
PAYDAY LOANS
bank payday loans, 7.2.15.4
electronic fund transfers, 5.3.8
preauthorized transfers, 5.8.6
Internet loans, 5.8.6.1
prepaid cards, 7.2.15.4
RCC scams, 3.13.1
stop payments, 3.7.2.4, 5.3.8
PAYMENT CARD INDUSTRY (PCI) SECURITY STANDARDS COUNCIL
see also CARD NETWORKS
data security standards, 5.4.7
PAYMENT PROCESSORS
ACH transfers, 5.1.5.2, 5.3.1.3
described, 3.2.2
mobile payments, 5.13
OCC bulletin, Appx. D.2
overview, 3.13.3
remotely created checks, 3.13.3, 3.13.4
third-party, role of, 5.3.1.4
PAYMENT SYSTEMS
ACH, see ACH (AUTOMATED CLEARING HOUSE) SYSTEM
acronyms, 1.1.3
cash, see CASH
checklists
other payments by consumers, 1.2.3
payments to consumer, 1.2.4
transfers from consumer, 1.2.2
checks, see CHECKS; PERSONAL CHECKS
credit cards, see CREDIT CARDS
debit cards, see DEBIT CARDS
differing rights, 1.2.1
direct deposit, see DIRECT DEPOSITS
electronic check conversion, see ELECTRONIC CHECK CONVERSION (ECC)
electronic transfers, see ELECTRONIC FUND TRANSFERS (EFTs)
emerging systems, 5.13
federal preemption of state law, see FEDERAL PREEMPTION
Internet payment systems, see INTERNET PAYMENT SYSTEMS
lost or stolen, see LOST OR STOLEN CARDS OR CHECKS
mobile payments, see MOBILE PAYMENTS
money orders, see MONEY ORDERS
NCLC online companion material, 1.1.1, 1.1.1a
SNAP resources, Appx. G.1
NCLC treatise, 1.1.1a
acronyms, 1.1.3
checklists, 1.2.2–1.2.4
online companion material, 1.1.1, 1.1.1a
organization, 1.1.1, 1.1.1a, 5.1.1, 8.1.4, 9.1
other treatise, 1.1.2
overview, 1.2
preauthorized EFTs, see PREAUTHORIZED ELECTRONIC FUND TRANSFERS
prepaid cards, see PREPAID CARDS
personal checks, see PERSONAL CHECKS
processing order important, 2.6.3.9, 3.8.4.5
remotely created checks, see REMOTELY CREATED CHECKS (RCCs)
remotely created payment orders, see REMOTELY CREATED PAYMENT ORDERS
security, see SECURITY STANDARDS
scams, see SCAMS
sources of law, 1.3
Check 21 Act, 3.12.1
checklists, 1.2.2–1.2.4
EFTA, 1.3.2
E-Sign Act, 1.3.4
federal preemption, 1.4
NACHA rules, 1.3.3
TILA, 1.3.5
UCC, 1.3.1, 3.4.2
UETA, 1.3.4
stored value systems, see STORED VALUE SYSTEMS
virtual cards, see VIRTUAL CARDS
PAYPAL
see INTERNET PAYMENT SYSTEMS; PERSON-TO-PERSON (P2P) TRANSFER SERVICES
PAYROLL CARDS
see also ;
account statements, 7.2.11
CFPB bulletin, E.5
checklist, 1.2.4
described, 7.3.1
disclosures, 7.2.5
EFTA, application, 5.1.3.3, 7.2.3.1, 7.3.2
FDIC insurance, application, Appx. F.3
fee limits, 7.2.7.4
interchange fees, 7.3.3
issuance, 5.2.2.3
non-compulsory, 5.2.2.3, 5.3.11, 7.2.4, 7.3.1
OCC advisory letter, 7.3.4
open-loop card, 7.1
regulation
federal regulation, 7.3.2, 7.3.4a
model law, 7.3.5, 7.4.5
state regulation, 7.3.5
risks, 7.3.4
PCI SECURITY STANDARDS
see PAYMENT CARD INDUSTRY (PCI) SECURITY STANDARDS COUNCIL
PERIODIC STATEMENTS
bank accounts, see BANK STATEMENTS
Direct Express cards, 9.6.2.3
EFTs, 2.4.4, 3.10.1.1, 5.2.5
prepaid cards, 7.2.7.3, 7.2.11
government cards, 7.4.2.3, 8.8.5, 9.6.2.3
PERSON-TO-PERSON (P2P) TRANSFER SERVICES
see also ; REMITTANCES
access codes, see ACCESS DEVICES
described, 6.6.1
mobile payments, 5.13
money transmitter laws, application, 6.6.3.1
PERSONAL CHECKS
see also CHECKS
acceptor’s obligation, 3.6.6, 4.6.2
access to funds, see FUNDS AVAILABILITY
accord and satisfaction checks, 3.11, 4.9.1
altered checks, 3.6.4.2, 3.7.2.10
see also ALTERATION OF CHECKS
bank statement rule, 3.10.1
defined, 3.6.4.2, 3.7.2.10
evading stop payments, 3.3.6, 3.7.2.4
liability for, 3.6.4.2, 3.7.2.10, 3.10.1
negligence rule, 3.10.2
applicable rules, 3.4
bank statement rule, 3.10.1
common law, 3.4.5, 3.10.4
federal regulations, 3.4.2
generally, 3.4.1
good faith and ordinary care, 3.4.3
imposter rule, 3.10.3
properly payable, 3.7.2
negligence rule, 3.10.2
statute of limitations, 3.4.6
UCC overview, 3.4.2
variation by agreement, 3.4.4
“at par,” settlement, 4.6.4.1
automated clearing, 3.8.2.1
see also ACH (AUTOMATED CLEARING HOUSE) SYSTEM; NATIONAL AUTOMATED CLEARING HOUSE ASSOCIATION (NACHA)
check truncation, 3.8.2.2, 3.12.1.1
ordinary care, 3.10.1.4
bad checks, see NOT SUFFICIENT FUNDS (NSF)
bank’s duty, 3.4.3, 3.7
good faith and ordinary care, 3.4.3, 3.10.1.4, 3.10.2, 3.10.3
properly payable rule, 3.7.2
bank statement rule, 3.10.1
bank’s duty, 3.10.1.2, 3.10.1.4
customer’s duty, 3.10.1.3, 3.10.1.6
issue preclusion, 3.10.1.5
other inaccuracies, 3.10.1.6
overview, 3.10.1.1
“bearer paper,” 3.5.2.1, 4.4.1
rights if stolen, 4.4.2
bounced checks, see NOT SUFFICIENT FUNDS (NSF)
cancelled checks, consumer access, 3.7.4, 3.10.1.2
Check 21, effect, 3.7.4
examining for alterations or forgery, 3.10.1.3, 3.10.1.5
examining for other inaccuracies, 3.10.1.6
fees, 2.6.5
substitute checks, 3.7.4
certified, see CERTIFIED CHECKS
Check 21, see CHECK 21 TRANSACTIONS
check-cashers, see CHECK-CASHING SERVICES
checklists, 1.2.2, 1.2.4
alteration of amount, 3.3.6
forgery, 3.3.1
NSF checks, 3.3.5
remotely created checks, 3.3.2
scams, 3.3.7
stolen checks, 3.3.3
stop payments, 3.3.4, 3.3.6
common terminology, 3.2.2
consumers, payments to, 4
accord and satisfaction checks, 4.9
bounced checks, 4.7
check-cashers, 4.10
funds availability, 4.5
issuance and delivery, 4.2
lost or stolen checks, 4.3, 4.4
“on us” checks, 4.6
payee liability, 4.8
contracts created by cashing, 4.9.2
counterfeit checks, 3.7.2.2.1, 3.7.2.10
delivery, 4.2.2
described, 3.2.1
discharge of obligation by, 3.6.2, 3.6.4.1
accord and satisfaction, 3.11
bounced checks, 3.8.4.3, 4.6.2, 4.7.6.3
lost or stolen checks, 4.3, 4.4
dishonored
see also DISHONOR OF CHECKS
drawee refusal to accept, 4.6.2, 4.6.3
example, 3.8.4.6
“midnight deadline,” 3.8.4.1
notice, 3.5.3.5.2, 3.6.4.1, 3.8.4.1, 3.8.4.3
NSF, see NOT SUFFICIENT FUNDS (NSF)
stop payments, see STOP PAYMENTS
wrongfully, see WRONGFUL DISHONOR
draft, status as, 3.2.1.1
drawer’s obligations, 3.6.4, 4.7.6.2
ECCs distinguished, 3.4.1, 5.1.3.8.2
EFTA, application, 5.1.3.2, 5.1.3.8
electronic conversion, see ELECTRONIC CHECK CONVERSION (ECC)
electronic images, see CHECK 21 TRANSACTIONS; ELECTRONIC CHECK IMAGES
features of printed check, 3.2.1
final payment, 3.8.4, 4.6.2
checks not properly payable, 3.9, 3.10.1, 4.8
effect, 3.8.4.2, 4.8.1
method, 3.8.4.1
presentment warranties, 3.9.3, 4.8.2
subrogation, 3.9.1
timing, 3.8.4.1
undoing, 3.9.2, 4.8.3
warranties survive, 4.8.2
forged checks
see also FORGERY
bank statement rule, 3.10.1
checklist, 3.3.1
indorsement, 3.6.4.4, 3.7.2.3, 4.4.3.1
negligence rule, 3.10.2
ratification, 3.10.4
re-crediting account, 3.9.1, 3.10.1.1
signature, 3.6.4.3, 3.7.2.2
funds availability, see FUNDS AVAILABILITY
good title, tracing
holder status, 3.5.2.2
issuance and negotiation, 3.5.2.1
government checks, see GOVERNMENT CHECKS
holder in due course, see HOLDERS IN DUE COURSE
holds, see FUNDS AVAILABILITY
imposter rule, 3.10.3
incomplete checks, 3.6.4.2, 3.7.2.10
defined, 3.6.4.2, 3.7.2.10
liability, 3.6.4.2, 3.7.2.10
indorsement, see INDORSEMENTS
indorser’s obligation, 3.6.5, 4.7.3
discharge, 4.8.1
issuance, 3.5.2.1, 3.6.4.1, 3.8.3.1, 4.2.1
item, status as, 3.2.1.1
joint payees, 3.5.2.1
large deposits, 4.5.7.5
liability on, 3.6.3.1, 3.6.4.2
local checks, 4.5.3
lost checks, see LOST OR STOLEN CARDS OR CHECKS
money orders distinguished, 6.2.1
negligence rule, 3.10.2
negotiable instrument, status as, 3.2.1.1
negotiation, 3.5.2.1, 3.5.2.2
non-local checks, 4.5.3
NSF, see NOT SUFFICIENT FUNDS (NSF)
“on us” checks, 3.8.3.3, 4.6
availability of funds, 4.5.4.1
drawee’s obligation, 4.6.2
fees, 4.6.4
paychecks, 4.6.4.2
payee identification, 4.6.3
“order paper,” 3.5.2.1, 4.4.1
rights if stolen, 4.4.3
order to pay, status as, 3.2.1.1
overdraft protection, see OVERDRAFT LOAN FEES
overdue checks, 3.5.3.5.2
parties, 3.2.2
keeping track of, 3.2.3
obligations, 3.6
paychecks, 4.6.4.2
periodic statements, see BANK STATEMENTS
post-dated checks, see POST-DATED CHECKS
presentment, 3.8.3.3
non-customers of bank, 3.7.3, 4.6
“over-the-counter,” 3.8.3.3
payee identification, 3.7.3, 4.6.3
re-presentment, 3.8.5
warranties, 3.9.3, 4.8.2
processing order, 2.6.3.9, 3.8.4.5
properly payable, 3.7.2
altered and incomplete instruments, 3.7.2.10
closed accounts, 3.7.2.5
death or incompetence, 3.7.2.6
defined, 3.7.2.1
indorsement, 3.7.2.3
insufficient funds, 3.7.2.9
final payments on checks not, 3.9, 3.10.1, 4.8
post-dated checks, 3.7.2.7
signature, 3.7.2.2
stale checks, 3.7.2.8
stopped payments, 3.7.2.4
wrongful dishonor, 3.7.3
re-crediting of account for wrongfully honored checks, 3.9.1, 3.10.1.1
“remote deposit capture,” 3.12.2
availability of funds, 4.5.8.1
remotely created, see REMOTELY CREATED CHECKS
re-presentment, see RE-PRESENTMENT OF BOUNCED CHECKS
scams, 3.3.7, 4.7.5
service fees, see BANK FEES
signature, 3.6.3
actual signature, 3.6.3.1
forgery, 3.6.3.1
stale checks, see STALE CHECKS
stolen checks, see LOST OR STOLEN CARDS OR CHECKS
stop payments, see STOP PAYMENTS
substitute checks, see SUBSTITUTE CHECKS
transfer of checks, 3.5.2.1, 3.8.3.2
warranties, 4.7.4, 4.8.2
truncation, 3.8.2.2, 3.12.1.1
UCC
application, 1.3.1, 2.6.3.9.2.1, 3.2.1.1, 3.4.2
provisions, see UNIFORM COMMERCIAL CODE (UCC)
unauthorized, reporting, 3.10.1
unsolicited checks, 4.9.2
wrongful dishonor, see under WRONGFUL DISHONOR
PERSONAL IDENTIFICATION NUMBERS (PINs)
see also ACCESS DEVICES; ;
access device status, 5.2.1.1
EBT access, 8.3.3
replacement PINs, 8.3.4.1
security issues, 8.7.3, 8.7.4
electronic signatures, authentication device, 11.7.4.5
issuance, 5.2.2.1
PIN debit transaction, defined, 1.1.3
unauthorized use, consumer liability, 5.4.3
PLEADINGS
POINT-OF-PURCHASE (POP) TRANSACTIONS
see also
ARC distinguished, 5.1.5.4
bank warranties, 5.11.3.3
BOC distinguished, 5.1.5.4
described, 5.1.5.3, 5.1.5.4
NACHA distinctions, 5.1.5.4
NACHA rules, 5.11.2.2
POS distinguished, 5.1.5.4
re-presentment of bounced checks, 3.8.5
POINT-OF-SALE (POS) TRANSACTIONS
see also ;
access devices, see ACCESS DEVICES; DEBIT CARDS
cash-back transactions, 8.6.4
described, 1.1.3, 5.1.5.3
disabled access, 8.9
blind persons, 8.9.4.3.2
EBT access
blind persons, 8.9.4.3.2
cash benefits, 8.5.2, 8.6.4
dedicated POS devices, 8.5.2.3
down terminals, 8.5.3
fees, 8.6.2.2, 8.6.4, 8.6.6
group living facilities, 8.9.8
homeless meal providers, 8.9.8
QUEST guidelines, 8.2.2.1
SNAP benefits, 8.5.1.1, 8.5.2.1
state-owned terminals, 8.6.4.2
error investigation time frame, 5.5.7
ETA access, 9.5.6
PINs, see PERSONAL IDENTIFICATION NUMBERS (PINs)
POP distinguished, 5.1.5.4
receipts, 5.9.4, 5.10.2
content of receipt, 5.10.2.4
failure to provide, 5.10.2.3
generally, 5.10.2.1
last five card digits only, 5.9.4
promotional materials, 5.10.2.2
POP TRANSACTIONS
see ELECTRONIC CHECK CONVERSION (ECC); POINT-OF-PURCHASE (POP) TRANSACTIONS
POS TRANSACTIONS
see DEBIT CARDS; ELECTRONIC FUND TRANSFERS (EFTs); POINT-OF-SALE (POS) TRANSACTIONS
POST-DATED CHECKS
see also
obligations of bank, 3.7.2.7.1
obligations of payee, 3.7.2.7.2
unfair debt collection practices, 3.7.2.7.2
electronic fund transfers, 5.3.10
POSTAL MONEY ORDERS
see also MONEY ORDERS
availability of funds, 4.5.4.1
generally, 6.2.10
POSTAL SERVICE (UNITED STATES)
“mailbox rule,” 11.6.1
presumption of delivery, 11.6.3.3
PRACTICE AIDS
see also RESEARCH AIDS
checklists, see CHECKLISTS
web resources, see WEB RESOURCES
PRE-ACQUIRED ACCOUNT INFORMATION
telemarketers, restrictions, 5.3.2.3.3
PREAUTHORIZED DEBITS
see PREAUTHORIZED ELECTRONIC FUND TRANSFERS
PREAUTHORIZED DRAFTS (PDs)
see REMOTELY CREATED CHECKS (RCCs)
PREAUTHORIZED ELECTRONIC FUND TRANSFERS
see also
authorization for transfers out, 5.8.2
checklist, 1.2.2
compulsory transfers required by creditor, 5.8.5
credit card debt, disputed charges, 10.2.2.1
defined, 5.8.1
direct deposits, see DIRECT DEPOSITS
EFTA, application, 5.1.3.8.1, 5.8.1
NACHA rules, 5.8.2.2, 5.8.6.3
payday loans, 5.8.6
state law, 5.8.6.4
stop payments, 5.3.8, 5.8.4, 5.8.4.1, 5.8.4.2
variable amounts, disclosures, 5.8.3
PREEMPTION
see FEDERAL PREEMPTION
PREPAID CARDS
see also ACCESS DEVICES; REMITTANCES;
access devices status, 7.2.4
accessing funds, 7.2.9
holds, 7.2.10
account information, 7.2.11
activation, 7.2.4
identification requirements, 7.2.3.3, 7.2.6
alternative to bank account, 2.2, 7.1
applicable laws, 7.2.3
EFAA, application, 4.5.2
EFTA, 5.1.3.3–5.1.3.5, 7.2.3.1, 7.2.3.2
other federal laws, 7.2.3.3, 7.2.6
Regulation II, 7.2.3.2
state laws, 6.6.3.1, 7.2.3.4, 7.2.14.1, 7.2.15.5
checklist, 1.2.3, 1.2.4
closed-loop cards, 7.1
gift cards, see GIFT CARDS AND CERTIFICATES
phone cards, 7.1
transit cards, 7.1, 7.6
credit features, 7.2.15
credit card status, 7.2.15.2
federal deposits restricted, 9.6.3
federal regulation, 7.2.15.2, 7.2.15.3
federal regulatory actions, 7.2.15.4
overview, 7.2.15.1
payday loans, 7.2.15.4, 7.2.15.5
state law, application, 7.2.15.5
credit reporting and, 7.2.16
debit card distinguished, 7.2.1
declined transactions, 2.6.4
defined, 1.1.3, 7.2.1
disclosures, 7.2.5
EBT cards distinguished, 8.1.3
error resolution, 7.2.12
expiration, 7.2.13
FDIC coverage, 7.2.14
Direct Express card, 9.6.2.4
FDIC opinion, 7.2.14.2, Appx. F.2
OCC letter, Appx. F.3
federal deposits to, 9.6.3
fees, 7.2.4
ATM fees, 7.2.3.2.4, 7.2.7.3
cash withdrawals, 7.2.9
inactivity fees, 7.2.13
interchange fees, 7.2.3.2
other types of fees, 7.2.7.4
overdraft fees, 7.2.3.2.4, 7.2.7.2
overview, 7.2.7.1
service charges, 7.2.7.3
statement fees, 7.2.7.3
holds, 7.2.10
issuance, 7.2.4
identification requirements, 7.2.3.3, 7.2.6
insolvency protection, 7.2.14
deposit insurance, 7.2.14.2
generally, 7.2.14.1
international money transfers, 6.5.1.1
loading, 7.2.8
lost or stolen cards, 7.2.12
Model Act, Appx. F.1
money laundering restrictions, 6.5.1.1, 7.2.6
money transmitter laws, application, 6.6.3.1, 7.2.14.1
open-loop cards, 7.1
general-use cards, 7.2.3.2.2
government issued, see GOVERNMENT-ISSUED PREPAID CARDS
payroll cards, see PAYROLL CARDS
rebate cards, see REBATE CARDS
student cards, see COLLEGE PREPAID CARDS
overview, 7.2
payday loans linked to, 7.2.15.4
state law, attempts to evade, 7.2.15.5
periodic statements, 7.2.11
parties involved, 7.2.2
savings features, 7.2.17
“split-tender” transactions, 7.7.6
unauthorized charges, 7.2.12
unused value, redemption, 7.2.13
gift cards, 7.7.3
using, 7.2.9
PRIVACY ISSUES
see also GRAMM-LEACH-BLILEY ACT
account aggregation services, 5.14.4
check-cashers, 4.10.3
digital signatures, 11.7.3
EBT transactions, 8.7.5
data and account security, 8.7.1
SNAP benefits, 8.7.5.2
smart cards, 8.7.5.3
PROCESSING ORDER
see TRANSACTION PROCESSING ORDER
PROMISSORY NOTES
see NOTES
PROMOTIONAL MATERIALS
electronic terminal receipts, placed on, 5.10.2.2
PUBLIC ASSISTANCE BENEFITS
see GOVERNMENT BENEFITS PAYMENTS
QUEST GUIDELINES
EBT standards, 8.2.2.1
error resolution, 8.8.1, 8.8.2.2, 8.8.3
RATIFICATION
forged checks, 3.10.4, 4.4.3.5.2
RCKs
see ELECTRONIC RE-PRESENTMENT OF CHECKS (RCKs)
RE-CREDITS
Check 21 transactions, see EXPEDITED RE-CREDITS
improper checks, 3.9.1, 3.10.1.1
prepaid cards, fees for, 7.2.7.4
unauthorized EFTs, 5.4.9, 5.5.5
provisional credit, 5.4.9, 5.5.6, 5.5.8
RE-PRESENTMENT OF BOUNCED CHECKS
see also
availability of funds, 4.5.7.5
EFTA, application, 5.1.3.8.1, 5.1.3.8.3
electronic re-presentment, see ELECTRONIC RE-PRESENTMENT OF CHECKS (RCKs)
overview, 3.8.5
REBATE CARDS
see also ;
generally, 7.6
RECEIPTS
debit card purchases, 5.9.4
electronic terminals, 5.10.2
content of receipt, 5.10.2.4
failure to provide, 5.10.2.3
generally, 5.10.2.1
last five card digits only, 5.9.4
promotional materials, 5.10.2.2
RECORDS
bank statements, see BANK STATEMENTS
credit records, see CREDIT REPORTS
defined, 11.2.1.1
ECC source documents, 5.11.2
EFTA retention requirements, 5.15.1
electronic records, see ELECTRONIC RECORDS
RCKs, 5.12.5
receipts, see RECEIPTS
replacing with electronic, 11.1
REFUNDS
see RE-CREDITS
REGULATION CC (EFAA)
see also EXPEDITED FUNDS AVAILABILITY ACT (EFAA)
Commentary, Appx. C.3
funds availability schedule, 4.5.3
ATM deposits, 4.5.4.1, 4.5.8
disclosure requirements, 4.5.9
exceptions, 4.5.7
fifth-day availability, 4.5.5
next-day availability, 4.5.4
not-in-person deposits, 4.5.8
notice requirements, 4.5.7.6
one-day extensions, 4.5.6
second-day availability, 4.5.5
violations, remedies, 4.5.10
model forms, 4.5.9, 4.5.10
overview, 4.5.1
scope, 4.5.2
substitute checks, application, 3.12.6.8
text, Appx. C.2
REGULATION DD (TISA)
see also TRUTH IN SAVINGS ACT (TISA)
Official Staff Commentary, Appx. B.3
text, Appx. B.2
REGULATION E (EFTA)
see also ELECTRONIC FUND TRANSFER ACT (EFTA)
authorization requirements, 5.3.1.1
generally, 5.1.2
government benefit payments, application, 7.4.2.3
Official Commentary, Appx. E.3
NSF fees, 5.3.6.1
prepaid cards, 7.2.3.2
gift cards, 7.7.3.1
re-presentment of checks, application, 3.8.5
scope, 5.1.3
stop payments, 5.3.7.1
text, Appx. E.2
versions, 5.1.2
REGULATION II (EFTA)
see also ELECTRONIC FUND TRANSFER ACT (EFTA)
exemptions
conditions on exemption, 7.2.3.2.4
general-use cards, 7.2.3.2.2
government-administered cards, 7.2.3.2.3
interchange fees, 5.9.3.1
overview, 7.2.3.2.1
prepaid cards, application, 7.2.3.2
payroll cards, 7.3.3
RELIGIOUS ORDERS
federal benefits payments, 9.6.4
REMEDIES
see ACTIONS
REMITTANCES
applicable laws
see also MONEY TRANSMITTER LAWS (STATE)
contract law, 6.5.3.1
EFTA, 6.5.2
state and local laws, 6.2.8, 6.5.3.2, 6.6.3
checklist, 1.2.3
defined, 6.5.2.2
“designated recipient,” 6.5.2.2
disclosure requirements
domestic remittances, 6.6.3.3
international remittances, 6.5.2.3
domestic remittances, 6.6
disclosure requirements, 6.6.3.3
EFTA, application, 6.5.2.1, 6.6.2
overview, 6.6.1
“P2P” transfers, 6.6.1
state law, 6.6.3
error resolution requirements, 6.5.2.4
errors covered, 6.5.2.4.1
procedures, 6.5.2.4.2
EFTA protections, 6.5.2
disclosure requirements, 6.5.2.3
effective date, 6.5.2.5
error resolution, 6.5.2.4
overview, 6.5.2.1
scope, 6.5.2.2
unauthorized transfers, 6.5.2.4.2
forms of remittances, 6.5.1.1
insolvency of money transmitter, 6.6.3.5
international remittances, 6.5
see also INTERNATIONAL REMITTANCES
disclosure requirements, 6.5.2.3
EFTA regulation, 6.5.2
error resolution, 6.5.2.4
issues presented by, 6.5.1.2
remittance market, 6.5.1.1
other applicable laws, 6.5.3
Internet payment systems, see INTERNET PAYMENT SYSTEMS
mobile transfers, see MOBILE PAYMENTS
money orders, see MONEY ORDERS
“preauthorized remittance transfers”, 6.5.2.2
“P2P” transfer services, 6.6.1
prepaid cards, see PREPAID CARDS
“remittance transfer provider,” 6.5.2.2
“sender,” 6.5.2.2
theft of funds, 6.6.3.5
wire transfers, see WIRE TRANSFERS
REMOTE DEPOSIT CAPTURE
availability of funds, 4.5.8.1
overview, 3.12.2
prepaid cards, loading by, 7.2.8
REMOTELY CREATED CHECKS (RCCs)
applicable laws, 3.4.1, 3.13.4
checklist, 1.2.2, 3.3.2, 3.13.4
defined, 3.13.1
EFTA, application, 5.1.3.8.1
originating bank, role, 3.13.3
overview, 3.13.1
payment processors, role, 3.13.3
remedies, 3.13.4
remotely created payment orders distinguished, 3.13.1
risks to banks, 3.13.3
risks to consumers, 3.13.1
signatures, 3.6.3.2, 3.13.2
generally, 3.13.2.1
telephone transactions, 3.13.2.2
stop payments, 3.7.2.4, 3.13.2.1
telemarketers, 3.13.2.2
unauthorized, 3.7.2.2.2, 3.13.2.1, 3.13.4
warranties, 3.9.3, 3.13.3
REMOTELY CREATED PAYMENT ORDERS
applicable law, 3.13.5
EFTA, application, 5.1.3.8.1, 5.1.3.8.4
overview, 3.13.5
payment processor, role, 3.13.3
RCCs distinguished, 3.13.1
RESEARCH AIDS
see also PRACTICE AIDS
case law, see CASE LAW
NCLC online companion material, 1.1.1, 1.1.1a
SNAP resources, Appx. G.1
RESTAURANT PURCHASES
see MERCHANTS
RETAILERS
see MERCHANTS
RETURN FEES
see NSF FEES
SAFETY STANDARDS
see also SECURITY STANDARDS
ATM premises, 8.7.2
SATISFACTION OF DEBT
see ACCORD AND SATISFACTION
SAVINGS ACCOUNTS
see BANK ACCOUNTS; DEPOSIT ACCOUNTS
SAVINGS ASSOCIATIONS
see BANKS; DEPOSITORY INSTITUTIONS; FEDERAL SAVINGS ASSOCIATIONS
SCAMS
bank money orders, 6.2.9
cashier’s and teller’s checks, 6.3.7
mystery shopper scams, 3.3.7, 4.7.5
money transfer services, 6.6.2a
Nigerian check scams, 3.3.7, 4.7.5
payee liability, 4.7.5
prepaid cards, 6.6.2a
remotely created checks, 3.13.1, 6.6.2a
SCREEN SCRAPING
blocking technology, 5.14.2.8
described, 5.14.1.3
SECURITY INTERESTS
deposit accounts, 10.3
credit unions, 10.2.2.1, 10.2.2.2
depository bank re cashed checks, 3.5.3.3
realizing prior to bank setoff, 10.2.4
SECURITY STANDARDS
see also SAFETY STANDARDS
account aggregation services, 5.14.2.2
BITS standards, 5.14.2.5
breach of duty, 5.14.2.5
ATMs, 8.7.2
card numbers on receipts, 5.9.4
data breach notification, 5.4.11
EBT system, 8.7
data and account security, 8.7.1
incorrect PIN entries, 8.7.4
lost or stolen cards or PINs, 8.7.3
personal security, 8.7.2
ECCs, 5.11.2
electronic signatures, 11.1.2.3
PCI standards, 5.4.7
SEIZURE
bank accounts, involuntary
garnishment, see GARNISHMENT
overview, 10.1
security interests, 10.3
setoffs, see BANKER’S SETOFF
SETOFFS
see BANKER’S SETOFF
SIGNATURE TRANSACTIONS
see also SIGNATURES
defined, 1.1.3
SIGNATURES
see also INDORSEMENTS
electronic signatures, see ELECTRONIC SIGNATURES
handwritten, characteristics, 11.7.4.1
personal checks, 3.6.3
actual signatures, 3.6.3.1, 3.7.2.2.1
agents, by, 3.6.3.1, 4.4.3.5.2
authorized signatures, 3.6.3.1, 3.6.3.2, 3.7.2.2.1, 4.4.3.5.2
forged signatures, 3.6.3.1, 3.6.4.3, 3.6.4.4, 3.7.2.2, 3.10
liability, 3.6.3.1, 3.7.2.2.1, 3.10
missing signatures, 3.7.2.2
ratification of forged signature, 3.10.4, 4.4.3.5.2
UCC rules, 3.6.3.1
remotely created checks, 3.6.3.2, 3.13.2
authorized as opposed to actual, 3.7.2.2.1
generally, 3.13.2.1
telephone transactions, 3.13.2.2
unauthorized, 3.7.2.2.2, 3.13.2.1
replacing with electronic, 11.1
transactions involving, see SIGNATURE TRANSACTIONS
traveler’s checks, 6.4
UCC definition, 3.6.3.1, 3.13.2.1
SMART CARDS
see also ; ;
EBTs
lost or stolen, 8.7.3.5
privacy issues, 8.7.5.3
electronic signatures
authentication device, 11.7.4.5
digital signatures and, 11.7.3
privacy issues, 8.7.5.3
SNAP
see SUPPLEMENTAL NUTRITION ASSISTANCE PROGRAM (SNAP)
SOCIAL SECURITY AND SSI PAYMENTS
see also
banker’s setoff, 10.2.8.5
child support garnishment, 9.8.12.2, 9.8.12.3
SPECIAL-NEEDS PERSONS
see DISABLED AND SPECIAL-NEEDS PERSONS
STALE CHECKS
see also
dishonor, 3.7.3
generally, 3.7.2.8
presentment, 3.8.3.3
STATE-ADMINISTERED BENEFITS
attachment by creditors, 10.2.8.1
bank setoff, 10.2.8
deposit to ETA accounts, 9.5.4
direct deposits, see DIRECT DEPOSITS
EBT deposits, see ELECTRONIC BENEFITS TRANSFER (EBT)
EFTA, application, 5.1.3.4
prepaid cards, see GOVERNMENT-ISSUED PREPAID CARDS
private enforcement of regulatory violations, 8.2.5
restrictions on use of funds, 8.2.1
STATE AGENCIES
see GOVERNMENT AGENCIES
STATE-CHARTERED BANKS
parity laws, 4.6.4.1
STATE LAW
bank setoffs, 10.2.3
notice, 10.2.5
check-cashers, 4.10.2
check cashing “at par” 4.6.4.1, 4.6.4.2
check disputes, application, 3.4.5
contract formation, 11.1.2.3
data breach notice, 5.4.11
EBT cards, 8.2.1
electronic fund transfers, 5.1.4
ATM fees, 5.10.1.2
payday loans, 5.8.6.4
unauthorized, consumer liability, 5.4.7
electronic records and signatures
application, 11.1.1, 11.4.3.2
digital signatures, 11.7.3
standards and format, 11.5.4
UETA enactment, 11.1.4
E-Sign Act, relationship, 11.4
displacement of E-Sign, 11.4.3, 11.4.5
preemption by E-Sign, 11.4.4, 11.4.6
escheat laws, 7.7.7
ETAs, application, 9.5.9
federal preemption, see FEDERAL PREEMPTION
funds availability, 4.5.1
garnishment protections, role, 9.8.16
gift cards
escheat laws, 7.7.7
expiry, 7.3.13, 7.7.3.2
federal preemption, 7.7.1.3
fees, 7.7.2.2
generally, 7.7.1.4
interchange fees, 5.9.3.2
international remittances, 6.5.3.2
money transmitters, 6.2.8, 6.5.3.2, 6.6.3
bonding, 6.6.3.2
cancellations, 6.6.3.4
disclosures, 6.6.3.3
enforcement, 6.6.3.6
refunds of non-transmitted funds, 6.6.3.4
investments, 6.6.3.2
licenses, 6.6.3.2
overview, 6.6.3.1
protections against theft or insolvency, 6.6.3.5
scope, 6.6.3.1
overdraft loans, application
credit statutes, 2.6.3.7
other laws, 2.6.3.8
parity statutes, 4.6.4.1
preemption, see FEDERAL PREEMPTION
prepaid cards
credit features, application, 7.2.15.5
escheat laws, 7.7.7
generally, 7.2.3.4
gift cards, 7.2.13, 7.7.1.3, 7.7.1.4, 7.7.2.2, 7.7.3.2
government cards, 7.4.5
payroll cards, 7.3.5
signature requirements, effect on electronic signatures, 11.7.6
transaction processing order, 2.6.3.9.2.2
UCC, see UNIFORM COMMERCIAL CODE (UCC)
UDAP, see UNFAIR OR DECEPTIVE ACTS AND PRACTICES (UDAP)
UETA, 11.1.4
state-by-state analysis, 11.4.7, Appx. I.2.1
STATEMENTS
see BANK STATEMENTS
STATUTE OF LIMITATIONS
see also
Check 21 Act, private actions, 3.12.6.2
conversion actions, 4.4.3.5.1
EFTA violations, 5.15.5
UCC, 3.4.6
STOLEN CARDS OR CHECKS
see LOST OR STOLEN CARDS OR CHECKS
STOP PAYMENTS
ACH debits, 3.7.2.4, 5.3.7
cashier’s checks, 6.3.3
electronic fund transfers, 5.3.7
payday loans, 5.3.8
preauthorized transfers, 5.3.8, 5.8.4
money orders, 6.2.4
bank money orders, 6.2.4.3
personal money orders, 6.2.4.2
NACHA rules, 5.3.7.2
personal checks, 3.3.4, 3.7.2.4
alteration to evade, 3.3.6, 3.7.2.4
certified checks, 3.7.2.4
description of check, 3.7.2.4
expiry, 3.7.2.4
failure to honor, 3.3.4.2, 3.9
fees, 2.6.5
final payment, prior to, 3.8.4.2
proper orders, 3.7.2.4
right to, 3.3.4.1, 3.7.2.4
Regulation E, 5.2.7.1
remotely created checks, 3.7.2.4, 3.13.2.1
re-presentment after, 5.12.1
teller’s checks, 6.3.3
STORED VALUE SYSTEMS
activation
generally, 7.2.4
identification, 7.2.6
cash, relation to, 7.7.8.1
checklist, 1.2.3
closed systems, 7.1
defined, 1.1.3, 7.1
EBT, see ELECTRONIC BENEFITS TRANSFER (EBT)
FDIC coverage, 7.2.14
Direct Express card, 9.6.2.4
FDIC opinion, 7.2.14.2, Appx. F.2
OCC letter, Appx. F.3
gift cards, see GIFT CARDS AND CERTIFICATES
government-administered, see GOVERNMENT-ISSUED PREPAID CARDS
insolvency protection, 7.2.14
FDIC coverage, 7.2.14.2
Model Act, Appx. F.1
open systems, 7.1
overview, 7.1
payroll cards, see PAYROLL CARDS
prepaid cards, see PREPAID CARDS
reloadable cards, 7.1
smart cards, see SMART CARDS
types, 7.1
unauthorized use, 7.7.5
STUDENT CARDS
see COLLEGE PREPAID CARDS
STUDENT LOANS
access devices, 5.2.2.3, 5.3.11
see also COLLEGE PREPAID CARDS
SUBROGATION
rights of drawee bank, 3.9.1
SUBSTITUTE CHECKS
see also CHECK 21 TRANSACTIONS;
applicable law, 3.12.6.8
authorization under Check 21, 3.12.3.1
automated check collection, described, 3.8.2.2
consumer access, 3.7.4
consumer awareness notices, 3.12.4
defined, 3.7.4
disadvantages, 3.12.1.2
ECCs distinguished, 3.4.1
errors
expedited re-credit, 3.12.5
private remedies, 3.12.6
form, 3.12.3.2
legal equivalent of original check, 3.12.3.3, 3.12.6.3.2
remedies when injury caused, 3.12.5, 3.12.6
damages, 3.12.6.2, 3.12.6.4, 3.12.6.5
reinvestigations, 3.12.5.1
requirements, 3.12.3.2
requesting, 3.12.5.2
UCC, application, 3.12.6.8
warranties, 3.12.6.3
breach of warranty, 3.12.6.2, 3.12.6.4, 3.12.6.6
duplicate payment, 3.12.6.3.3
generally, 3.12.6.3.1
legal equivalency, 3.12.6.3.2
SUPPLEMENTAL NUTRITION ASSISTANCE PROGRAM (SNAP)
see also ELECTRONIC BENEFITS TRANSFER (EBT)
authorized representative, 8.9.7.4
electronic delivery
adjustments for state claims, 8.8.2.4
balance inquiries, 8.6.5
compulsory, 8.1.1, 8.9.1.2
disaster recovery plans, 8.5.4
error correction, notice and hearing, 8.8.2.5
farmers’ markets, 8.5.1.2
fees, 8.6.1, 8.6.6, 8.6.5, 8.6.6
generally, 8.2.4, 8.5.1.1
group living facilities, 8.9.8
homeless meal providers, 8.9.8
homeless persons, 8.9.7, 8.9.8
lost or stolen cards or PINs, 8.6.7, 8.7.3.2
manual back-up system, 8.5.3.2, 8.8.2.3
merchant costs, 8.6.6
NSF payments, 8.8.2.3
overpayments, 8.8.2.1
POS terminals, 8.5.1.1, 8.5.2.1
privacy concerns, 8.7.5.2
private remedies, 8.2.5
recipient access, 8.5.1
replacement cards, 8.6.1, 8.6.7, 8.7.3.2
special needs recipients, 8.9.1.2
system errors, 8.8.2.2
transaction histories, 8.8.5
USDA regulations, 8.2.1, 8.2.4
frequently asked questions, Appx. G.2
homeless persons, 8.9.7, 8.9.8
assistance, 8.9.7.4
group living facilities, 8.9.8
homeless meal providers, 8.9.8
mailing address not required, 8.9.7.2
timely, accurate and fair service, 8.9.7.3
merchant participation, 8.5.1.1, 8.6.6
national access, 8.5.1.1
state agency requirements, 8.9.7.3, 8.9.7.4
web resources, Appx. G.1
TELECHECKS
see REMOTELY CREATED CHECKS (RCCs)
TELEMARKETERS
see also MERCHANTS;
debit card transactions, 5.3.2.3.3
electronic fund transfers, 5.3.2
“express verifiable authorization,” 5.3.2.3.3
FTC rule, 5.3.2.3
NACHA rules, 5.3.2.2
preacquired account information, 5.3.2.3.3
“free-to-pay” transactions, 5.3.2.3.3
FTC rule, see TELEMARKETING SALES RULE (FTC)
NACHA investigations, 5.3.9
OCC bulletin on payment processors, Appx. D.2
pre-acquired account information, 5.3.2.3.3
RCCs, 3.13.2.2, 3.13.4
FTC rule, 3.13.2.2, Appx. D.1
TELEMARKETING SALES RULE (FTC)
authorization requirements, 5.3.2.3.3
debit card purchases, 5.3.2.3.3
“free-to-pay” transactions, 5.3.2.3.3
payment scams, 6.6.2a
preacquired account telemarketing, 5.3.2.3.3
remotely created checks, application, 3.13.2.2, 3.13.4
scope, 5.3.2.3.2
selected text, Appx. D.1
violations, remedies, 5.3.2.3.4
TELEPHONE-AUTHORIZED TRANSFERS
see also TELEMARKETERS; TELEPHONE BANKING
EFTA, application, 5.1.3.8.2, 5.3.2.1
EFTs, see ELECTRONIC FUND TRANSFERS (EFTs)
NACHA investigations, 5.3.9
NACHA rules, 5.3.2.2
payment codes, see ACCESS DEVICES
RCCs, see REMOTELY CREATED CHECKS (RCCs)
TELEPHONE BANKING
see also ; MOBILE BANKING
access code, see ACCESS DEVICES
EFTA, application, 5.1.3.2
TELEPHONE CALLING CARDS
see PREPAID CARDS
TELEPHONE CHECKS
see REMOTELY CREATED CHECKS (RCCs)
TELEPHONE COMMUNICATIONS
see also MOBILE BANKING;
electronic record status, 11.3.6.2
TELLER’S CHECKS
see also CASHIER’S CHECKS
availability of funds, 4.5.4.1
bank money orders treated as, 6.2.2, 6.2.4.3
checklist, 1.2.3
debts, payment by, 6.3.6
described, 6.3.1
forgery of payee’s name, 6.3.4
lost or stolen, 6.3.5
obligation of drawee to pay, 6.3.2
scams, 6.3.7
stop payments, 6.3.3
TEMPORARY ASSISTANCE FOR NEEDY FAMILIES (TANF)
see also STATE-ADMINISTERED
restrictions on use of funds, 8.2.1
TERMINALS
see AUTOMATED TELLER MACHINES (ATMs); POINT OF SALE (POS) TRANSACTIONS
THEFT
see IDENTITY THEFT; LOST OR STOLEN CARDS OR CHECKS
TIME LIMITS
see also STATUTE OF LIMITATIONS
accord and satisfaction, rejection, 3.11
dishonor of check, 3.8.4.1, 3.9.2
EBT errors
notice of error, 8.8.2.2
request for hearing, 8.8.2.5
ECC record retention, 5.11.2.1
EFT error investigations, 5.5.5–5.5.7
expedited re-credits
claims, 3.12.5.3
re-credits, 3.12.5.5
forged or altered checks, reporting
first alteration or forgery, 3.10.1.3.2
maximum time limit, 3.10.1.5
reasonable promptness, 3.10.1.3.1
subsequent alterations or forgery, 3.10.1.3.3
variation by agreement, 3.10.1.3.4
garnishment orders, processing, 9.8.6
post-dated checks, bank notification, 3.7.2.7.1
returned item retention, 5.12.3.2
TOKEN DEVICES
see also ACCESS DEVICES;
electronic signatures, authentication method, 11.7.4.5
TRAINING MATERIALS
EBT recipients, 8.4
deaf and hard of hearing recipients, 8.9.5.1
blind recipients, 8.9.4.2
functionally illiterate persons, 8.9.9
generally, 8.4.1
homeless recipients, delivery, 8.9.7
in-person training, 8.4.3
non-English speaking persons, 8.9.10
speech-impaired recipients, 8.9.5.1
telephone training, 8.4.4
visually impaired recipients, 8.9.4.2
written materials, 8.4.2
TRANSACTION PROCESSING ORDER
legal standards, 2.6.3.9.2, 3.8.4.5
check vs. electronic transactions, 2.6.3.9.2.1
federal regulator guidance, 2.6.3.9.2.3
UCC and other state laws, 2.6.3.9.2.2
nature of problem, 2.6.3.9.1
TRANSIT CARDS
see also ;
closed-loop card, 7.1
generally, 7.6
TRAVELER’S CHECKS
checklist, 1.2.3
defined, 6.4
lost or stolen, 6.4
overview, 6.4
signatures, 6.4
TREASURY DEPARTMENT
see UNITED STATES TREASURY
TRUNCATION OF CHECKS
see also CHECK 21 TRANSACTIONS;
defined, 3.12.1.1
process described, 3.8.2.2
“remote deposit capture,” 3.12.2
TRUSTEES
checks indorsed by, 4.4.5
TRUTH IN LENDING ACT (TILA)
credit cards, application, 1.3.5
account aggregation, 5.14.2.4
bank setoff restrictions, 10.2.2.1
debit cards, application, 2.6.3.6
disclosures
electronic disclosures, 11.3.7.3
open-end credit, 2.4.4
EFTA compared, 5.4.1, 5.5.1.1
E-Sign Act, relationship, 11.4.3.3
FCBA, see FAIR CREDIT BILLING ACT (FCBA)
overdraft loans, application, 2.6.3.6
prepaid cards with credit features, application, 7.2.15.2
scope, 1.3.5
TRUTH IN SAVINGS ACT (TISA)
account aggregation fees, application, 5.14.5.2
account opening disclosures, 2.4.2
delivery, 2.4.2.1
interest rates, 2.4.2.2
fees, 2.4.2.3
other terms, 2.4.2.4
advertising disclosures, 2.4.3
application, 2.1, 2.4.1
bank fees, 2.6.1
ETAs, 9.5.9
enforceability, 2.4.6
interest calculations, 2.4.5
overdraft loan fees, 2.6.3.3
overview, 2.4.1
periodic statements, 2.4.4
preemption of state law, 2.5
regulation DD, see REGULATION DD (TISA)
scope, 2.4.1
text, Appx. B.1
violations, 2.4.6
UDAP
see UNFAIR OR DECEPTIVE ACTS AND PRACTICES (UDAP)
UETA
see UNIFORM ELECTRONIC TRANSACTIONS ACT (UETA)
UNBANKED AND UNDERBANKED HOUSEHOLDS
overview, 6.1
UNEMPLOYMENT INSURANCE
prepaid cards, DOL guidance, 7.4.3, Appx. F.4.2
Labor Secretary’s letter, Appx. F.4.1
UNFAIR OR DECEPTIVE ACTS AND PRACTICES (UDAP)
check-cashers, 4.10.2.4, 4.10.3
federal preemption, 1.4.3
FTC telemarketing rule violations, 5.3.2.3.4
overdraft loan fees, 2.6.3.8
remotely created checks, 3.13.4
TISA violations, 2.4.6
UNIFORM COMMERCIAL CODE (UCC)
accord and satisfaction, 3.11
bank accounts, right to close, 2.7.2
bank fees, application, 2.6.1
bank money orders, lost or stolen, 6.2.3.2.2
banks, application, 2.3.2
check transactions, 1.3.1, 3.4
altered checks, 3.6.4.2
application, 2.6.3.9.2.1, 3.2.1.1, 3.4.2
bank’s obligations, 3.4.3
cancelled checks, access, 3.7.4, 3.10.1.2
common law supplements, 3.4.5
electronic images, 3.4.1, 3.8.2.2
fiduciaries, 4.4.5
lost or stolen checks, 4.4.3.4
ordinary care, 3.4.3, 3.10.2
overview of rules, 3.4.2
presentment identification, 4.6.3
presentment warranties, 3.9.3, 4.8.2
processing order, 2.6.3.9.2.2, 3.8.4.5
re-presentment, 3.8.5
retention requirements, 3.7.4
selected text, Appx. A
signatures, 3.6.3.1
substitute checks, application, 3.12.6.8
transfer warranties, 4.7.4
undoing final payment, 3.9.2, 4.8.3
variation by agreement, 3.4.4
wrongful dishonor, 3.7.3
conspicuous disclosures, 11.3.7.1
debit cards, application, 2.6.3.9.2.1
electronic fund transfers, application, 2.6.3.9.2.1
unauthorized transfers, 5.4.7, 5.4.10
electronic records, application, 11.1.1
E-Sign Act displacement, 11.2.2.1
federal preemption, 1.4.3
funds availability, application, 4.5.1
good faith and ordinary care duty, 2.3.2, 3.4.3, 3.10.2
overdraft loan fees, application, 2.6.3.8
remotely created checks, application, 3.13.4
remotely created payment orders, application, 3.13.5
security interests in deposit accounts, application, 10.3
selected text, Appx. A
statute of limitations, 3.4.6
traveler’s checks, application, 6.4
UETA displacement, 11.2.2.1
UNIFORM COMPUTER INFORMATION TRANSACTIONS ACT (UCITA)
conspicuous definition, 11.3.7.6
E-Sign Act, non-displacement, 11.4.5.4.4
overview, 11.4.5.4.4
UNIFORM ELECTRONIC TRANSACTIONS ACT (UETA)
application, 11.2.1.3, 11.4
consumer transactions, 11.3.1
governmental agencies, 11.5.1, 11.5.3
non-interstate commerce, 11.4.3.2
other rules of law, effect, 11.2.3
transactions exempted by E-Sign, 11.2.2.2
consumer protections, 11.3
comparison with E-Sign, 11.3.3
consent, 11.3.4.2, 11.4.7
electronic disclosures, 11.3.7.2
overview, 11.3.4
record retention and integrity, 11.3.6, 11.6.2
described, 1.1.3
electronic signatures
attribution standards, 11.7.4.2, 11.7.4.4
authentication, 11.7.4.2
enforceability, 11.7.1
intent to sign, 11.7.1a
E-Sign Act, relationship, 11.1.4, 11.4
displacement of E-Sign, 11.4.2, 11.4.3, 11.4.5, 11.4.7
post-E-Sign UETA, 11.4.5.4
pre-E-Sign UETA, 11.4.5.3
preemption by E-Sign, 11.4.2, 11.4.4, 11.4.6
exemptions, 11.2.2
non-uniform, transformation into uniform, 11.4.6.5
overview, 11.1.4
scope, 11.2.1
state variations, 11.1.4
state-by-state analysis, 11.4.7, Appx. I.2.1
text, Appx. I.2.2
transmission and delivery provisions, 11.6.1, 11.6.3.2
UNIFORM MONEY SERVICES ACT
check-cashers, regulation, 4.10.2.4
UNITED STATES TREASURY
see also GOVERNMENT CHECKS
checks drawn on, funds availability, 4.5.4.1, 4.5.8.1
garnishment protection rule, 9.8
see also GARNISHMENT
banker’s setoff, application, 10.2.8.6
prepaid card rules, 7.2.3.3
USA PATRIOT ACT
check-cashers, application, 4.10.3
identity verification requirements, 7.2.6
prepaid cards, application, 7.2.6
USDA
see DEPARTMENT OF AGRICULTURE (USDA)
VETERANS BENEFITS
see also
child support garnishment, 9.8.12.2
VIRTUAL CARDS
see also ACCESS DEVICES
access device status, 5.2.1.1
debit cards, 5.2.1.1
EFTA, application, 5.2.1.1, 7.7.1.1
gift cards, 7.7.1.1
VIRTUAL CURRENCY
credit, 5.14a.15.14a.3
currencies, 5.14a.1
federal law, applicable, 5.14a.2
state law, applicable, 5.14a.3
VISA
see CARD NETWORKS; CREDIT CARDS
VISUALLY IMPAIRED PERSONS
see also DISABLED AND SPECIAL-NEEDS PERSONS
EBT access, 8.9.4
WAGES
see also EMPLOYERS
cash-dispensing machines, 4.10.2.2
direct deposits, 5.2.2.3
authorization requirement, 5.2.2.3, 5.3.11
notice, 5.2.4.3
payroll cards, see PAYROLL CARDS
WAIVER
accord and satisfaction, future claims, 3.11, 4.9.1
Check 21 transactions
claims, 3.12.6.2
warranties, 3.12.6.3.1
EFT 99 transfers, 9.3.1, 9.3.2–9.3.6
EFTA liability rules, 5.4.3
EFTA rights, evasion, 5.1.2a
garnishment exemptions, 9.8.11
UCC provisions
duties of good faith and ordinary care, 3.4.3
other provisions, 3.4.4
WARRANTIES
ECCs, 5.11.3
ARCs, 5.11.3.2
BOCs, 5.11.3.3
POPs, 5.11.3.3
presentment warranties, 3.9.3, 4.8.2
remotely created checks, 3.13.3
RCKs, 5.12.4
substitute checks, 3.12.6.3
breach of warranty, 3.12.6.2, 3.12.6.4, 3.12.6.6
duplicate payment warranty, 3.12.6.3.3
generally, 3.12.6.3.1
legal equivalence warranty, 3.12.6.3.2
survive final payment, 4.8.2
transfer warranties, 4.7.4, 4.8.2
WEB RESOURCES
NCLC online companion material, 1.1.1, 1.1.1a
SNAP resources, Appx. G.1
WEB TRANSFERS
see also ;
described, 5.1.3.3
NACHA rules, 5.3.3
overview, 5.3.3
WELFARE ASSISTANCE
see GOVERNMENT BENEFITS PAYMENTS
WILLS
E-Sign Act and UETA exemption, 11.2.2.1
WIRE TRANSFERS
see also REMITTANCES
checklist, 1.2.3
described, 6.5.1.1
EFTA, application, 5.1.3.2
UCC, application, 6.5.2.2
WRONGFUL DISHONOR
money orders, 6.2.5
personal checks, 3.7.3
bank balance, determination, 3.8.4.4
properly payable personal checks, 3.7.2
statute of limitations, 3.4.6
stop payment orders, 3.3.4.2