Problems and Policies in Making EFT Available to the Public
In addressing the issue of EFT regulation and control, my purpose will be to provide a broad overview and an inner view of evolving money-transfer techniques and the issues before the National Commission on Electronic Fund Transfers. I do not speak for the Commission; it has released two reports and its public sessions reveal the character of its deliberations. In summary terms, the major issues before the Commission are the following: the interests of money users (generally referred to by the Commission as “consumers”), the regulatory responsibility and participation by government and the central bank in assuring accessible, efficient, and reliable money transfer services, and the ready availability of technological innovations to public and private providers of payment services.
KeywordsFinancial Institution Payment System Credit Union Paper Technology Depository Institution
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- 1.Board of Governors of the Federal Reserve System, 1977 Consumer Credit Survey, 110–111, December (1978), Washington, D.C.Google Scholar