The Electronic Funds Transfer Act (EFTA) is a federal law that governs electronic transactions involving funds from a consumer's bank account. This legislation provides protection to consumers in various electronic payment scenarios. Synonyms for the term "Electronic Funds Transfer Act" include the Electronic Money Transfer Regulation, EFT regulations, and the Digital Transactions Act. These phrases are often used interchangeably to refer to the same set of laws and regulations that ensure the safety, transparency, and efficiency of electronic payments. Regardless of the exact terminology used, the objective remains the same: to protect consumers and regulate electronic funds transfers to promote secure and seamless financial transactions.