Employees involved in providing EFT services to consumers must understand and comply with EFTA and Regulation E… The recent class-action lawsuits regarding ATMs underscore the importance of EFTA compliance.
Mount Kisco, NY (PRWEB) April 04, 2012
WeComply, Inc., a leader in web-based ethics and compliance training for corporate employees, has released a new course on the Electronic Fund Transfer Act (EFTA). This course provides an explanation of EFTA's Regulation E and its requirements for employees of financial institutions.
The Electronic Fund Transfer Act was enacted to protect consumers against EFT-related fraud and errors. The course discusses the legal requirements for electronic fund transfers, issuing access devices (such as debit cards) and disclosures to consumers. It also covers preauthorized transfers, overdraft services, gift cards, error resolution, consumer liability, record retention and penalties.
“Employees involved in providing EFT services to consumers must understand and comply with EFTA and Regulation E,” said Mike Pallatta, WeComply CEO. “The recent class-action lawsuits regarding ATMs underscore the importance of EFTA compliance.”
WeComply is a leading provider of customizable online ethics and compliance training solutions, offering more than 70 courses on such topics as anti-corruption, antitrust, Code of Conduct, data privacy and security, discrimination and harassment, insider trading and whistleblowing. For more information, visit http://www.wecomply.com.