15 U.S.C. § 1693 — Congressional findings and declaration of

Page 1644 TITLE 15—COMMERCE AND TRADE § 1693 1 See References in Text note below. 2 So in original. There are two pars. designated ‘‘(4)’’ and no par. (3). institution holding such account without pro- viding notice to the person at the time the check was made, drawn, or delivered; (4) a check for partial payment of a debt where the payee had previously accepted par- tial payment for such debt; (5) a check issued by a person who was not competent, or was not of legal age, to enter into a legal contractual obligation at the time the check was made, drawn, or delivered; or (6) a check issued to pay an obligation aris- ing from a transaction that was illegal in the jurisdiction of the State or district attorney at the time the check was made, drawn, or de- livered. (c) Definitions For purposes of this section, the following definitions shall apply: (1) State or district attorney The term ‘‘State or district attorney’’ means the chief elected or appointed prosecuting at- torney in a district, county (as defined in sec- tion 2 of title 1), municipality, or comparable jurisdiction, including State attorneys general who act as chief elected or appointed pros- ecuting attorneys in a district, county (as so defined), municipality or comparable jurisdic- tion, who may be referred to by a variety of ti- tles such as district attorneys, prosecuting at- torneys, commonwealth’s attorneys, solici- tors, county attorneys, and state’s attorneys, and who are responsible for the prosecution of State crimes and violations of jurisdiction- specific local ordinances. (2) Check The term ‘‘check’’ has the same meaning as in section 5002(6) of title 12. (3) Bad check violation The term ‘‘bad check violation’’ means a violation of the applicable State criminal law relating to the writing of dishonored checks. (Pub. L. 90–321, title VIII, § 818, as added Pub. L. 109–351, title VIII, § 801(a)(2), Oct. 13, 2006, 120 Stat. 2004.) SUBCHAPTER VI—ELECTRONIC FUND TRANSFERS § 1693. Congressional findings and declaration of purpose (a) Rights and liabilities undefined 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 sys- tems, the application of existing consumer pro- tection legislation is unclear, leaving the rights and liabilities of consumers, financial institu- tions, and intermediaries in electronic fund transfers undefined. (b) Purposes It is the purpose of this subchapter to provide a basic framework establishing the rights, li- abilities, and responsibilities of participants in electronic fund and remittance transfer sys- tems. The primary objective of this subchapter, however, is the provision of individual consumer rights. (Pub. L. 90–321, title IX, § 902, as added Pub. L. 95–630, title XX, § 2001, Nov. 10, 1978, 92 Stat. 3728; amended Pub. L. 111–203, title X, § 1073(a)(1), July 21, 2010, 124 Stat. 2060.) Editorial Notes AMENDMENTS 2010—Subsec. (b). Pub. L. 111–203 inserted ‘‘and remit- tance’’ after ‘‘electronic fund’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2010 AMENDMENT Amendment by Pub. L. 111–203 effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111–203, set out as an Effective Date note under section 5301 of Title 12, Banks and Banking. EFFECTIVE DATE Pub. L. 90–321, title IX, § 923, formerly § 921, as added by Pub. L. 95–630, title XX, § 2001, Nov. 10, 1978, 92 Stat. 3741, renumbered § 922, Pub. L. 111–24, title IV, § 401(1), May 22, 2009, 123 Stat. 1751; renumbered § 923, Pub. L. 111–203, title X, § 1073(a)(3), July 21, 2010, 124 Stat. 2060, provided that: ‘‘This title [enacting this subchapter] takes effect upon the expiration of eighteen months from the date of its enactment [Nov. 10, 1978], except that sections 909 and 911 [sections 1693g, 1693i of this title] take effect upon the expiration of ninety days after the date of enactment.’’ [Pub. L. 111–203, § 1073(a)(3), which directed renum- bering of section 922 of Pub. L. 90–321 as section 923 ef- fective 1 day after July 21, 2010, was executed after the renumbering of section 921 of Pub. L. 90–321 as section 922 by Pub. L. 111–24, § 401(1), effective 15 months after May 22, 2009, to reflect the probable intent of Congress.] SHORT TITLE This subchapter known as the ‘‘Electronic Fund Transfer Act’’, see Short Title note set out under sec- tion 1601 of this title. § 1693a. Definitions As used in this subchapter— (1) the term ‘‘accepted card or other means of access’’ means a card, code, or other means of access to a consumer’s account for the pur- pose of initiating electronic fund transfers when the person to whom such card or other means of access was issued has requested and received or has signed or has used, or author- ized another to use, such card or other means of access for the purpose of transferring money between accounts or obtaining money, property, labor, or services; (2) the term ‘‘account’’ means a demand de- posit, savings deposit, or other asset account (other than an occasional or incidental credit balance in an open end credit plan as defined in section 1602(i) 1 of this title), as described in regulations of the Bureau, established pri- marily for personal, family, or household pur- poses, but such term does not include an ac- count held by a financial institution pursuant to a bona fide trust agreement; (4) 2 the term ‘‘Board’’ means the Board of Governors of the Federal Reserve System; (4) 2 the term ‘‘Bureau’’ means the Bureau of Consumer Financial Protection;