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European Free Trade Association › Consumer Financial Products › Banks

The European Free Trade Association is an intergovernmental organization established in 1960 to facilitate and promote free trade among its member states and as a counterbalance to the more politically-driven... more +
The European Free Trade Association is an intergovernmental organization established in 1960 to facilitate and promote free trade among its member states and as a counterbalance to the more politically-driven European Economic Community (EEC). The current member states of the EFTA are Liechtenstein, Iceland, Norway, and Switzerland.   less -
Orrick, Herrington & Sutcliffe LLP

Court orders bank to produce third-party records in prepaid debit card fees suit

Orrick, Herrington & Sutcliffe LLP on

On August 21, a federal magistrate judge in the District Court for the Western District of Washington ordered a bank to produce certain records related to its prepaid debit card program, including documents maintained by...more

Orrick, Herrington & Sutcliffe LLP

CFPB warns against collecting on overdraft services without explicit consumer consent

Orrick, Herrington & Sutcliffe LLP on

On September 17, the CFPB published a circular clarifying that banks and credit unions can violate the EFTA and Regulation E if they cannot prove that consumers agreed to be enrolled in overdraft services before being charged...more

Ballard Spahr LLP

Sixth Circuit Says No Indemnification Under EFTA or Michigan Law for Bank EFTA Reimbursements to Customers

Ballard Spahr LLP on

On July 16, the Sixth Circuit held that the Federal Electronic Funds Transfer Act (EFTA) does not provide for an implied right of indemnification or contribution, and preempts indemnification claims under the Michigan...more

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