To exclude certain electronic benefit transfer programs established by State or local governments from provisions of the Electronic Funds Transfer Act.
Electronic Fund Transfer Amendments of 1995 - Amends the Electronic Fund Transfer Act to prohibit the Board of Governors of the Federal Reserve System (the Board) from applying to electronic benefit transfers established under a State or local governmental entitlement program certain disclosures, protections, responsibilities, and remedies (in effect, the liability limits currently applicable to private sector ATM and consumer credit cards), unless the payment under such program is made directly into a consumer's account held by the recipient.
Declares such prohibition inapplicable to benefit payments made through the use of a debit card unless the Board determines that certain emergency services are available to the recipient in the event the card is reported lost or stolen.
Introduced in House
Introduced in House
Referred to the House Committee on Banking and Financial Services.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
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