Keep Up with Revolutionary Changes in Payments
New payment methods raise new issues about consumer rights concerning fraudulent or erroneous transfers, fees, and the ability to stop or recoup payments. This treatise now covers all rights concerning consumer payments: UCC Articles 3, 4 and 4A, the Electronic Fund Transfer Act, Nacha rules, the CFPB’s prepaid account rule, E-Sign and UETA, and state laws on check cashing, remittances, money transmitters, and gift cards.
Consumer Banking and Payments offers both a practical and detailed coverage of old and new payment methods and consumer rights:
- What you didn’t know about check law, including how those laws apply to new check scams and mobile deposits and check hold times
- Overdraft and nonsufficient funds fees
- EFTA rules governing debit and ATM cards, electronic payments, Zelle, and p2p apps (e.g., Venmo, Apple Cash) and crypto-assets, including issues surrounding disputes, errors and fraud
- Account opening and closing, account freezes, and bank requirements to know their customers and to monitor accounts to prevent illicit finance
- International remittances, wire transfers, and state money transmitter laws
- Payroll cards, EBT and other government benefit cards, college and gift, cards, other prepaid and stored value accounts
- Federal benefit payments and direct deposits
- Banker’s right of setoff and security interests in deposit accounts
Special bonus features include:
- Payment law options for scammed consumers to get their money back
- A detailed chapter on electronic signatures and records.
Praise
"The National Consumer Law Center has come to the rescue of lawyers handling consumer cases. The Series has the answers for the myriad questions that can arise. The analysis of the law contains an extensive study of state statutes and generous footnotes citing case law in every state." — Texas Bar Journal