Ark. Code Ann. § 4-4A-108 (2026)
Relationship to Electronic Fund Transfer Act
- Except as provided in subsection (b), this chapter does not apply to a funds transfer any part of which is governed by the Electronic Fund Transfer Act of 1978 (Title XX, Public Law 95-630, 92 Stat. 3728, 15 U.S.C. § 1693 et seq.) as amended from time to time.
- This chapter applies to a funds transfer that is a remittance transfer as defined in the Electronic Fund Transfer Act (15 U.S.C. § 1693 et seq.) as amended from time to time, unless the remittance transfer is an electronic fund transfer as defined in the Electronic Fund Transfer Act (15 U.S.C. § 1693a) as amended from time to time.
- In a funds transfer to which this chapter applies, in the event of an inconsistency between an applicable provision of this chapter and an applicable provision of the Electronic Fund Transfer Act, the provision of the Electronic Fund Transfer Act governs to the extent of the inconsistency.
History. Acts 1991, No. 540, § 1; 2013, No. 111, § 1.
Amendments. The 2013 amendment rewrote the section heading and the section.
Research References
ALR.
Validity, Construction, and Application of Electronic Fund Transfer Act (EFTA), and Regulations Promulgated Thereunder, 15 U.S.C. §§ 1693 et seq.46 A.L.R. Fed. 2d 473.
Case Notes
Applicability.
In an action arising out of a state-chartered bank's practices regarding the order in which debit card transactions were posted to maximize overdraft fees, the bank's argument that UCC Article 4A approved of high-to-low posting based on, in particular, processing of payment orders, failed because debit card transactions were within the scope of the Electronic Fund Transfer Act, 15 U.S.C. § 1693a(7), and therefore expressly outside the scope of UCC Article 4A. Hanjy v. Arvest Bank, 94 F. Supp. 3d 1012 (E.D. Ark. 2015).