What does the Electronic Fund Transfer Act $($EFTA$)$ require financial institutions to do to inform their consumers of their rights and responsibilities with respect to EFT systems?

The Electronic Fund Transfer Act $($EFTA$)$ requires financial institutions to inform consumers of their rights and responsibilities with respect to EFT systems by providing a monthly statement for every month in which there is an electronic transfer of funds. The statement must show the amount and date of the tranfer, the names of the relallers or other third parties imvolved, the location or identification of the terminal, and the fees.

The Electronic Fund Transfer Act $($EFTA$)$ requires financial institutions to inform consumers of their rights and responsibilities with respect to EFT systems by providing a yearly statemert listing every electronic transfer of funds that year.

The Electronic Fund Transfer Act $($EFTA$)$ requires financial institutions to inform consumers of their rights and responsiblities with respect to EFT systems by providing a monthly statement for every month in which there is an electronic transfer of funds. The statement need only show the amount and date of the transfer.

The Electronic Fund Transfer Act $($EFTA$)$ requires finandial institutions to inform consumers of their rights and responsibilities with