General Laws of Massachusetts - Chapter 167B Electronic Branches and Electronic Fund Transfers
- Massachusetts General Laws - Definitions - Chapter 167B, Section 1
The following words as used in this chapter, unless the context otherwise requires, shall have the following meanings:— “Accepted access device”, an access device to...
- Massachusetts General Laws - Regulations; advisory rulings; reconsideration of rulings; model clauses - Chapter 167B, Section 2
(a) The commissioner may prescribe from time to time such regulations as may be necessary or proper in carrying out the purposes of chapter one...
- Massachusetts General Laws - Purchase, establishment, installation, etc. of electronic branches; amount of investment; location; safeguards; shared use of branches or equipment - Chapter 167B, Section 3
After a vote of its board of trustees or directors, a financial institution or organization, except as otherwise provided in this section, may purchase, establish,...
- Massachusetts General Laws - Application to purchase, establish, install, etc.; information; notice of decision - Chapter 167B, Section 4
An application filed with the commissioner to purchase, establish, install, operate, lease, use or share an electronic branch shall contain the following information: (a) the...
- Massachusetts General Laws - Approval of organizations prior to investments or service contracts; application; information - Chapter 167B, Section 5
No financial institution shall invest in or contract for the services of any organization unless such organization has been approved in writing by the commissioner...
- Massachusetts General Laws - Consumer access to electronic fund transfer - Chapter 167B, Section 6
A person shall not issue to a consumer an access device to the consumer’s account for the purpose of initiating an electronic fund transfer other...
- Massachusetts General Laws - Security options - Chapter 167B, Section 6A
In order to promote the security of electronic fund transfers, financial institutions shall make available to consumers: (a) Options to limit the total amount of...
- Massachusetts General Laws - Prohibitions - Chapter 167B, Section 7
No person may: (1) condition the extension of credit to a consumer on such consumer’s repayment by means of preauthorized electronic fund transfers; (2) require...
- Massachusetts General Laws - Disclosure of terms and conditions; information included - Chapter 167B, Section 8
(a) The terms and conditions of electronic fund transfers involving a consumer’s account shall be disclosed, in writing, before the consumer contracts for an electronic...
- Massachusetts General Laws - Documentation of transfers; contents; notice; periodic statements - Chapter 167B, Section 9
(a) For each electronic fund transfer initiated by a consumer from an electronic branch or point-of-sale terminal, the financial institution holding such consumer’s account shall,...
- Massachusetts General Laws - Preauthorized transfers - Chapter 167B, Section 10
A preauthorized electronic fund transfer from a consumer’s account may take place only if the consumer has authorized the transfer in writing. A copy of...
- Massachusetts General Laws - Waiver of rights - Chapter 167B, Section 11
No writing or other agreement between a consumer and any other person may contain any provision which constitutes a waiver of any right conferred or...
- Massachusetts General Laws - Repealed, 1991, 471, Sec. 4 - Chapter 167B, Section 12
Repealed, 1991, 471, Sec.
- Massachusetts General Laws - System malfunction; suspension of obligation - Chapter 167B, Section 13
If a system malfunction prevents the effectuation of an electronic fund transfer initiated by a consumer to another person, and such other person has agreed...
- Massachusetts General Laws - Identifying numbers; social security number; prohibition - Chapter 167B, Section 14
The consumer’s United States Social Security number shall not be used as a central information file number, personal identification number, primary financial account number, or...
- Massachusetts General Laws - Credit or cash refunds - Chapter 167B, Section 15
If it is the policy of a person to give cash refunds for payments made by cash, such person shall also give credit or cash...
- Massachusetts General Laws - Disclosure of information - Chapter 167B, Section 16
(a) A person may not disclose information regarding any account or electronic fund transfer to any person except: (1) the consumer making the transfer; (2)...
- Massachusetts General Laws - Remedies for wrong resolution of account error resulting from electronic funds transfer - Chapter 167B, Section 17
A financial institution shall comply with the requirements and a consumer shall be entitled to the remedies for error resolution for an electronic fund transfer...
- Massachusetts General Laws - Liability of consumer for unauthorized transfer - Chapter 167B, Section 18
(a) A consumer shall be liable for any unauthorized electronic fund transfers or a series of transfers arising from a single loss or theft of...
- Massachusetts General Laws - Liability of financial institution to consumer - Chapter 167B, Section 19
(a) Subject to subsections (b) and (c), a financial institution shall be liable to a consumer for all damages proximately caused by: (1) the financial...
- Massachusetts General Laws - Liability of any person to consumer - Chapter 167B, Section 20
(a) Except as otherwise provided by this section and section nineteen, any person who fails to comply with any provision of this chapter with respect...
- Massachusetts General Laws - Violations; arrest without warrant - Chapter 167B, Section 21
(a) Whoever knowingly and willfully: (1) gives false or inaccurate information or fails to provide information which he is required to disclose by this chapter...
- Massachusetts General Laws - Actions and proceedings; injunctions; penalties - Chapter 167B, Section 22
(a) Whenever the commissioner has reason to believe that any person is in violation of any provision of this chapter, and that proceedings would be...
- Massachusetts General Laws - Repealed, 2002, 455, Sec. 3 - Chapter 167B, Section 23
Repealed, 2002, 455, Sec.
- Massachusetts General Laws - Assessment - Chapter 167B, Section 24
The commissioner of banks shall make an assessment in each fiscal year equally against all electronic branches established and operated under the provisions of this...
Last modified: September 11, 2015