Section 10. A preauthorized electronic fund transfer from a consumer’s account may take place only if the consumer has authorized the transfer in writing. A copy of the authorization shall be provided to the consumer at the time of his signing. If, under the terms of an authorization given by a consumer directly to a […]
Section 11. No writing or other agreement between a consumer and any other person may contain any provision which constitutes a waiver of any right conferred or cause of action created by this chapter. Nothing in this section prohibits, however, any writing or other agreement which grants to a consumer a more extensive right or […]
Section 13. If a system malfunction prevents the effectuation of an electronic fund transfer initiated by a consumer to another person, and such other person has agreed to accept payment by such means, the consumer’s obligation to the other person shall be suspended until the malfunction is corrected and the electronic fund transfer may be […]
Section 14. The consumer’s United States Social Security number shall not be used as a central information file number, personal identification number, primary financial account number, or a subpart thereof. Such social security number shall not be used to electronically identify the consumer to any financial institution or organization, provided, however, that it may be […]
Section 15. If it is the policy of a person to give cash refunds for payments made by cash, such person shall also give credit or cash refunds for payments made by electronic fund transfers, unless it is clearly and conspicuously disclosed at the time the transaction is consummated that such person does not give […]
Section 16. (a) A person may not disclose information regarding any account or electronic fund transfer to any person except: (1) the consumer making the transfer; (2) any other person who is a party to an electronic funds transfer or is necessary to effectuate the transfer, but only to the extent that the information disclosed […]
Section 17. A financial institution shall comply with the requirements and a consumer shall be entitled to the remedies for error resolution for an electronic fund transfer required in accordance with the Electronic Funds Transfer Act, 15 USC 1693 et seq. and regulations promulgated thereunder. If in an action under section 20, the court finds […]
Section 18. (a) A consumer shall be liable for any unauthorized electronic fund transfers or a series of transfers arising from a single loss or theft of the access device only if the access device is an accepted access device, the liability is not in excess of fifty dollars, the issuer of such access device […]
Section 19. (a) Subject to subsections (b) and (c), a financial institution shall be liable to a consumer for all damages proximately caused by: (1) the financial institution’s failure to make an electronic fund transfer, in accordance with the terms and conditions of an account, in the correct amount or in a timely manner when […]
Section 2. (a) The commissioner may prescribe from time to time such regulations as may be necessary or proper in carrying out the purposes of chapter one hundred and sixty-seven B. Such regulations shall be consistent, where applicable, with the regulations promulgated by the bureau under the electronic fund transfer act 15 USC 1693 et […]
Section 20. (a) Except as otherwise provided by this section and section nineteen, any person who fails to comply with any provision of this chapter with respect to any consumer, except for an error resolved in accordance with section seventeen, is liable to such consumer in an amount equal to the sum of: (1) any […]
Section 21. (a) Whoever knowingly and willfully: (1) gives false or inaccurate information or fails to provide information which he is required to disclose by this chapter or any regulation issued thereunder; or (2) otherwise fails to comply with any provision of this chapter; shall be fined not more than five thousand dollars or imprisoned […]
Section 22. (a) Whenever the commissioner has reason to believe that any person is in violation of any provision of this chapter, and that proceedings would be in the public interest, the commissioner may request the attorney general to bring an action in the name of the commonwealth against such person to restrain the violation […]
Section 24. The commissioner of banks shall make an assessment in each fiscal year against all electronic branches established and operated under this chapter or chapter 167C or 171. Said assessments shall be made at rates as shall be determined by the commissioner as sufficient to produce revenue to reimburse the commonwealth for all costs […]
Section 3. After a vote of its board of trustees or directors, a financial institution or organization, except as otherwise provided in this section, may purchase, establish, install, operate, lease or use individually or with any other financial institution or organization or share with any other financial institution or organization any number of manned or […]
Section 4. An application filed with the commissioner to purchase, establish, install, operate, lease, use or share an electronic branch shall contain the following information: (a) the type of electronic branch applied for; (b) the site location of such electronic branch with a general description of the surrounding area; (c) the services which may be […]
Section 5. No financial institution shall invest in or contract for the services of any organization unless such organization has been approved in writing by the commissioner and the financial institution has obtained a copy of such approval. Any organization seeking such approval shall file an application with the commissioner which the commissioner shall approve […]
Section 6. A person shall not issue to a consumer an access device to the consumer’s account for the purpose of initiating an electronic fund transfer other than: (1) in response to a request or application therefor and upon verification of the consumer’s identity, which may be by any reasonable means such as by photograph, […]
Section 6A. In order to promote the security of electronic fund transfers, financial institutions shall make available to consumers: (a) Options to limit the total amount of cash which can be withdrawn through the use of an electronic branch, from a consumer’s account in a single day; provided, however, that if more than one consumer […]
Section 7. No person may: (1) condition the extension of credit to a consumer on such consumer’s repayment by means of preauthorized electronic fund transfers; (2) require a consumer to accept an electronic fund transfer service or to establish an account for receipt of electronic fund transfers with a financial institution as a condition of […]
