{"identifier":"/us/usc/t15/s1693a","title":15,"num":"\u00a7\u202f1693a.","heading":"Definitions","text":"\u00a7\u202f1693a.\nDefinitions\nAs used in this subchapter\u2014\n(1) the term \u201caccepted card or other means of access\u201d means a card, code, or other means of access to a consumer\u2019s account for the purpose 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 authorized 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;\n(2) the term \u201caccount\u201d means a demand deposit, 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)\n1\n1 See References in Text note below.\n(4) 2\n2 So in original. There are two pars. designated \u201c(4)\u201d and no par. (3).\n(4) 2\n(5) the term \u201cbusiness day\u201d means any day on which the offices of the consumer\u2019s financial institution involved in an electronic fund transfer are open to the public for carrying on substantially all of its business functions;\n(6) the term \u201cconsumer\u201d means a natural person;\n(7) the term \u201celectronic fund transfer\u201d means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, or computer or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, direct deposits or withdrawals of funds, and transfers initiated by telephone. Such term does not include\u2014\n(A) any check guarantee or authorization service which does not directly result in a debit or credit to a consumer\u2019s account:\n3\n3 So in original. The colon probably should be a semicolon.\n(B) any transfer of funds, other than those processed by automated clearinghouse, made by a financial institution on behalf of a consumer by means of a service that transfers funds held at either Federal Reserve banks or other depository institutions and which is not designed primarily to transfer funds on behalf of a consumer;\n(C) any transaction the primary purpose of which is the purchase or sale of securities or commodities through a broker-dealer registered with or regulated by the Securities and Exchange Commission;\n(D) any automatic transfer from a savings account to a demand deposit account pursuant to an agreement between a consumer and a financial institution for the purpose of covering an overdraft or maintaining an agreed upon minimum balance in the consumer\u2019s demand deposit account; or\n(E) any transfer of funds which is initiated by a telephone conversation between a consumer and an officer or employee of a financial institution which is not pursuant to a prearranged plan and under which periodic or recurring transfers are not contemplated;\nas determined under regulations of the Bureau;\n(8) the term \u201celectronic terminal\u201d means an electronic device, other than a telephone operated by a consumer, through which a consumer may initiate an electronic fund transfer. Such term includes, but is not limited to, point-of-sale terminals, automated teller machines, and cash dispensing machines;\n(9) the term \u201cfinancial institution\u201d means a State or National bank, a State or Federal savings and loan association, a mutual savings bank, a State or Federal credit union, or any other person who, directly or indirectly, holds an account belonging to a consumer;\n(10) the term \u201cpreauthorized electronic fund transfer\u201d means an electronic fund transfer authorized in advance to recur at substantially regular intervals;\n(11) the term \u201cState\u201d means any State, territory, or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any political subdivision of any of the foregoing; and\n(12) the term \u201cunauthorized electronic fund transfer\u201d means an electronic fund transfer from a consumer\u2019s account initiated by a person other than the consumer without actual authority to initiate such transfer and from which the consumer receives no benefit, but the term does not include any electronic fund transfer (A) initiated by a person other than the consumer who was furnished with the card, code, or other means of access to such consumer\u2019s account by such consumer, unless the consumer has notified the financial institution involved that transfers by such other person are no longer authorized, (B) initiated with fraudulent intent by the consumer or any person acting in concert with the consumer, or (C) which constitutes an error committed by a financial institution.","url":"https://projectusc.org/usc/t15/s1693a.html","content":[{"t":"sec","id":"/us/usc/t15/s1693a","children":[{"t":"num","text":"\u00a7\u202f1693a."},{"t":"heading","text":"Definitions","tail":"\n"},{"t":"chapeau","text":"As used in this subchapter\u2014"},{"t":"para","id":"/us/usc/t15/s1693a/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" the term \u201caccepted card or other means of access\u201d means a card, code, or other means of access to a consumer\u2019s account for the purpose 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 authorized 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;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693a/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" the term \u201caccount\u201d means a demand deposit, 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)\u202f","children":[{"t":"ref","text":"1"},{"t":"num","text":"1","tail":"\u202fSee References in Text note below."},{"t":"text","text":"\u202fSee References in Text note below.","tail":" of this title), as described in regulations of the Bureau, established primarily for personal, family, or household purposes, but such term does not include an account held by a financial institution pursuant to a bona fide trust agreement;"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693a/4","children":[{"t":"num","text":"(4)"},{"t":"content","text":"\u202f","children":[{"t":"ref","text":"2"},{"t":"num","text":"2","tail":"\u202fSo in original. There are two pars. designated \u201c(4)\u201d and no par. (3)."},{"t":"text","text":"\u202fSo in original. There are two pars. designated \u201c(4)\u201d and no par. (3).","tail":" the term \u201cBoard\u201d means the Board of Governors of the Federal Reserve System;"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693a/4","children":[{"t":"num","text":"(4)"},{"t":"content","text":"\u202f","children":[{"t":"text","text":"2","tail":" the term \u201cBureau\u201d means the Bureau of Consumer Financial Protection;"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693a/5","children":[{"t":"num","text":"(5)"},{"t":"content","text":" the term \u201cbusiness day\u201d means any day on which the offices of the consumer\u2019s financial institution involved in an electronic fund transfer are open to the public for carrying on substantially all of its business functions;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693a/6","children":[{"t":"num","text":"(6)"},{"t":"content","text":" the term \u201cconsumer\u201d means a natural person;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693a/7","children":[{"t":"num","text":"(7)"},{"t":"chapeau","text":" the term \u201celectronic fund transfer\u201d means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, or computer or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, direct deposits or withdrawals of funds, and transfers initiated by telephone. Such term does not include\u2014"},{"t":"subpara","id":"/us/usc/t15/s1693a/7/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" any check guarantee or authorization service which does not directly result in a debit or credit to a consumer\u2019s account:\u202f","children":[{"t":"ref","text":"3"},{"t":"num","text":"3","tail":"\u202fSo in original. The colon probably should be a semicolon."},{"t":"text","text":"\u202fSo in original. The colon probably should be a semicolon."}],"tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t15/s1693a/7/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" any transfer of funds, other than those processed by automated clearinghouse, made by a financial institution on behalf of a consumer by means of a service that transfers funds held at either Federal Reserve banks or other depository institutions and which is not designed primarily to transfer funds on behalf of a consumer;","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t15/s1693a/7/C","children":[{"t":"num","text":"(C)"},{"t":"content","text":" any transaction the primary purpose of which is the purchase or sale of securities or commodities through a broker-dealer registered with or regulated by the Securities and Exchange Commission;","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t15/s1693a/7/D","children":[{"t":"num","text":"(D)"},{"t":"content","text":" any automatic transfer from a savings account to a demand deposit account pursuant to an agreement between a consumer and a financial institution for the purpose of covering an overdraft or maintaining an agreed upon minimum balance in the consumer\u2019s demand deposit account; or","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t15/s1693a/7/E","children":[{"t":"num","text":"(E)"},{"t":"content","text":" any transfer of funds which is initiated by a telephone conversation between a consumer and an officer or employee of a financial institution which is not pursuant to a prearranged plan and under which periodic or recurring transfers are not contemplated;","tail":"\n"}],"tail":"\n\n"},{"t":"continuation","text":"as determined under regulations of the Bureau;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693a/8","children":[{"t":"num","text":"(8)"},{"t":"content","text":" the term \u201celectronic terminal\u201d means an electronic device, other than a telephone operated by a consumer, through which a consumer may initiate an electronic fund transfer. Such term includes, but is not limited to, point-of-sale terminals, automated teller machines, and cash dispensing machines;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693a/9","children":[{"t":"num","text":"(9)"},{"t":"content","text":" the term \u201cfinancial institution\u201d means a State or National bank, a State or Federal savings and loan association, a mutual savings bank, a State or Federal credit union, or any other person who, directly or indirectly, holds an account belonging to a consumer;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693a/10","children":[{"t":"num","text":"(10)"},{"t":"content","text":" the term \u201cpreauthorized electronic fund transfer\u201d means an electronic fund transfer authorized in advance to recur at substantially regular intervals;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693a/11","children":[{"t":"num","text":"(11)"},{"t":"content","text":" the term \u201cState\u201d means any State, territory, or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any political subdivision of any of the foregoing; and","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1693a/12","children":[{"t":"num","text":"(12)"},{"t":"content","text":" the term \u201cunauthorized electronic fund transfer\u201d means an electronic fund transfer from a consumer\u2019s account initiated by a person other than the consumer without actual authority to initiate such transfer and from which the consumer receives no benefit, but the term does not include any electronic fund transfer (A) initiated by a person other than the consumer who was furnished with the card, code, or other means of access to such consumer\u2019s account by such consumer, unless the consumer has notified the financial institution involved that transfers by such other person are no longer authorized, (B) initiated with fraudulent intent by the consumer or any person acting in concert with the consumer, or (C) which constitutes an error committed by a financial institution.","tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}