Which Act established rights, liabilities, and responsibilities of consumers in electronic money transfers?

The Electronic Funds Transfer Act (EFTA) is the legislation that specifically addresses the rights, liabilities, and responsibilities of consumers involved in electronic money transfers. Enacted in 1978, the EFTA aims to protect consumers when they engage in transactions involving electronic funds, including ATM transactions, debit card transactions, and online money transfers.

The Act ensures that consumers are informed about the terms and conditions associated with electronic transfers and outlines the procedures for resolving errors, the liability limits for unauthorized transactions, and the disclosure requirements of financial institutions. This legal framework provides crucial consumer protections, such as the requirement for financial institutions to limit the liability for unauthorized transactions if consumers report them in a timely manner.

In contrast, while the other options may focus on financial transactions or security, they do not specifically address the comprehensive consumer protections related to electronic money transfers that are central to the EFTA.