(a) Except as provided in subsection (b), this article 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, United States Code, title 15, § 1693 et seq.) as amended from time to time.

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Terms Used In Minnesota Statutes 336.4A-108

  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.

(b) This article applies to a funds transfer that is a remittance transfer as defined in the Electronic Fund Transfer Act, United States Code, title 15, § 1693o-1, as amended from time to time, unless the remittance transfer is an electronic fund transfer as defined in the Electronic Fund Transfer Act, United States Code, title 15, § 1693a, as amended from time to time.

(c) In a funds transfer to which this article applies, in the event of an inconsistency between an applicable provision of this article 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.