Electronic Funds Transfer Act: Class Actions Surge Highlighted by Recent Cases


The Electronic Funds Transfer Act, 15 U.S.C. § 1693 et seq. (EFTA), and its regulations promulgated by the Federal Deposit Insurance Corporation (FDIC), Reg E, 12 C.F.R. sect; 205.16, require, in relevant part, that banks charging a fee to non-bank cardholders for automatic teller machine (ATM) withdrawals must:

1.Post in a prominent and conspicuous location on or at the automated teller machine a notice that...

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