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15 U.S.C. § 1693

Title 15 Chapter 41 Current through PL 116-220 ~1 min read Last updated: March 30, 2026 View on OLRC →
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§ 1693. Congressional findings and declaration of purpose

  • (a) The Congress finds that the use of electronic systems to transfer funds provides the potential for substantial benefits to consumers. However, due to the unique characteristics of such systems, the application of existing consumer protection legislation is unclear, leaving the rights and liabilities of consumers, financial institutions, and intermediaries in electronic fund transfers undefined.
  • (b) It is the purpose of this subchapter to provide a basic framework establishing the rights, liabilities, and responsibilities of participants in electronic fund and remittance transfer systems. The primary objective of this subchapter, however, is the provision of individual consumer rights.

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