Electronic Funds Transfer Moratorium Act of 1975, Hearing Before the Subcommittee on Financial Institutions of ..., 94-1 March 14, 1975 |
Common terms and phrases
Amendment antitrust applications approval authority automated teller bank card banking system believe bill BOMAR branch banking cash CBCT CBCT's Chairman chartered commercial banks Commission on Electronic committee competitive Comptroller concern Congress consumer costs credit card credit unions Currency customer's customers December December 19 depository devices EFT development EFT systems EFT terminals electronic funds transfer electronic methods establish experimentation Federal Home Loan Federal savings financial institutions funds transfer systems Home Loan Bank install insured involved issues legislation limited loan associations Loan Bank Board located McFadden Act ment merchants moratorium National Bank Act national banks National Commission OETTINGER operation payment permit places of business point of sale problems public interest question regulation remote service units retail sale terminals savings and loan Senator MCINTYRE Senator PROXMIRE sharing statement statute STRUNK thrift institutions tion transactions Washington YESSON
Popular passages
Page 19 - Currency, the Federal Deposit Insurance Corporation, and the Board of Governors of the Federal Reserve System.
Page 141 - organization" means a corporation, government or governmental subdivision or agency, trust, estate, partnership, cooperative, or association. (d) The term "person" means a natural person or an organization. (e) The term "credit...
Page 31 - branch' as used in this section shall be held to include any branch bank, branch office, branch agency, additional office, or any branch place of business located in any State or Territory of the United States or in the District of Columbia at which deposits are received, or checks paid, or money lent.
Page 41 - US at 136-137. This statement was made in the context of an opinion which had reviewed the legislative history of the McFadden Act, and determined that the Act dealt with competition between state chartered and national banks. 396 US at 130-134; see also First National Bank of Logan v. Walker Bank & Trust Co. , 385 US 252 (1966). The Court in Plant City, after considering both the contractual rights and liabilities and the competitive aspects determined that "a systematic attempt to secure for national...
Page 140 - This title does not annul, alter, or affect, or exempt any person subject to the provisions of this title from complying with, the laws of any State with respect to credit discrimination, except to the extent that those laws are inconsistent with any provision of this title, and then only to the extent of the inconsistency.
Page 129 - ... would not constitute an expenditure by such corporation or labor organization; (vii) any loan of money by a State bank, a federally chartered depository institution, or a depository institution the deposits or accounts of which are insured by the Federal Deposit Insurance Corporation, Federal Savings and Loan Insurance Corporation, or the National Credit Union Administration, other than any overdraft made with respect to a checking or savings account, made in accordance with applicable law and...
Page 30 - ... specified in their organization certificate, for the performance of such routine services as the receipt of deposits and the cashing of checks for their customers.
Page 24 - Comptroller of the Currency, 490 L'Enfant Plaza East SW., Washington, DC 20219.
Page 31 - ... law, may retain and operate the same while remaining or upon becoming a stockholder of such Federal reserve bank; but no such State bank may retain or acquire stock in a Federal reserve bank except upon relinquishment of any branch or branches established after the date of the approval of this Act beyond the limits of the city, town, or village in which the parent bank is situated.
Page 50 - ... location of the device or machine. The device or machine may not be staffed by a bank employee, except that the bank for a reasonable period of time may provide an employee to instruct and assist customers in the operation of the device or machine. Any transactions initiated by such a device or machine shall be subject to verification by the bank either by direct wire transmission or otherwise. A bank may provide insurance protection under its bonding program for transactions involving such a...