E-banking."Congress and regulatory agencies regulatory agency Independent government commission charged by the legislature with setting and enforcing standards for specific industries in the private sector. The concept was invented by the U.S. will need to adapt existing laws to address the complex issues presented by new electronic banking technologies," says Melanie L. Fein, former senior counsel to the Federal Reserve Board of Governors. "Likewise, banks and other financial service firms will need to adapt new technical applications to existing laws that Congress and the regulators will be slow to change." Thus, Fein wrote Law of Electronic Banking, which covers everything from an analysis of the changing regulatory reg·u·late tr.v. reg·u·lat·ed, reg·u·lat·ing, reg·u·lates 1. To control or direct according to rule, principle, or law. 2. framework to evolving e-banking technologies -- including joint ventures and strategic alliances, electronic funds transfer See EFT. (application, communications) electronic funds transfer - (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. and privacy, consumer protection and policy issues. |
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