Our university recently implemented a debit card program. The
university ID card can now also be used as a debit card, with funds
deposited with the university, and purchases may be made at on-campus
locations only. Since this is similar to a banking situation, I'm
concerned about what state and federal law may apply to this. I've
identified the federal Electronic Fund Transfer Act, and federal banking
regulation E, as well as the state of Michigan's Electronic Funds
Transfer Act.
Does anyone know what other federal regulations might apply to our
situation?
Thanks!
Sharon
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Sharon J. Haapala, CIA, Auditor
Internal Audit
Department
Michigan Technological University
906-487-1994
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"...let us strive on to finish the work we are in; to bind up the
nation's wounds� to do all which may achieve and cherish a just and
lasting peace among ourselves, and with all
nations.� Abraham
Lincoln, March 4, 1865
