Cal. FIN § 6517
This is the official text of Cal. FIN § 6517, part of California’s Financial Code — regulates banks, credit unions, lenders, and other financial institutions.
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Official statutory text
Subject to Regulation E (12 CFR Part 205) and to rules and regulations of the commissioner, an association may transfer funds between holders of savings accounts, and third parties, or their designees, by means of an electronic funds transfer system. No system or any part of it, including terminals or processing centers, shall of itself be considered a branch office or agency.
Status: in_force · Read it on the official government site
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