Which of the Following Is One of the Provisions of the Electronic

question 31

Multiple Choice

Which of the following is one of the provisions of the Electronic Funds Transfer Act and Regulation E of the Federal Reserve Board?

• A) A bank can send unsolicited EFTS debit cards to a consumer only if the cards are valid for use.
• B) If a customer notifies the issuing bank of a stolen or lost debit card within two days of the loss, the customer's liability is limited to a maximum of $500.
• C) A bank must provide annual statements of electronic funds transfers to customers who conduct such transactions in a given financial year.
• D) Other than for a telephone transaction, a bank must provide a customer with a written receipt of a transaction made through a computer terminal.

---

Definitions:

Legal Capital

The portion of a company's equity that cannot be distributed to shareholders and must be maintained as a financial protection for creditors.

Market Value

The current price at which an asset or service can be bought or sold in an open market.

U.S. Economy

The economic system of the United States characterized by private enterprise, a variety of industries, and is the largest national economy in nominal terms.

Tax Incentives

Financial discounts or benefits offered by governments to encourage certain behaviors or investments, reducing the tax liability for businesses or individuals.