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@ de1abdd3:ff3979a0
2025-03-06 19:24:12
nostr:nprofile1qy3hwumn8ghj7un9d3shjtt5v4ehgmn9wshxkwrn9ekxz7t9wgejumn9waesqgr8g2hyzql5lt4cxfjdj40hgtu6vydvsqvsesqy8canygcce3lwvyyapkyy
BANKS SAY COURT’S ‘NOVEL’ RULING UPENDS WIRE TRANSFER BUSINESS
https://s.yimg.com/ny/api/res/1.2/TNLT6vBu4Orexzz_zzWaNQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD02NzU-/https://media.zenfs.com/en/payments_dive_978/f40e269ab4368bf901491f6d30358e3b
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✍️ A New York federal court has ruled that a wire transfer can be broken down into component parts, with consumer transfers subject to the Electronic Funds Transfer Act (EFTA). Banks are seeking a quick review by a federal appeals court, citing uncertainty and potential costly changes to their operations.
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👉 A New York federal court has ruled that a wire transfer can be broken down into component parts
👉 Consumer transfers are subject to the Electronic Funds Transfer Act (EFTA)
👉 Banks are seeking a quick review by a federal appeals court
👉 The court's ruling could introduce uncertainty and require costly changes to bank operations
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#J.PaulOetken #LetitiaJames #business
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