RECOGNIZING THE IMPORTANCE OF CONSUMER ISSUES INHERENT IN THE SPREAD OF ELECTRONIC FUND TRANSFER (EFT) SYSTEMS, THE U.S. CONGRESS CREATED THE NATIONAL COMMISSION ON ELECTRONIC FUND TRANSFERS AND CHARGED IT WITH THE INVESTIGATION OF THE IMPACT OF EFT ON THE CONSUMER. SPECIFICALLY, THE ENABLING LEGISLATION REQUIRES THAT THE COMMISSION TAKE INTO ACCOUNT: (1) THE NEED TO AFFORD MAXIMUM USER AND CONSUMER CONVENIENCE; (2) THE NEED TO AFFORD MAXIMUM USER AND CONSUMER RIGHTS TO PRIVACY AND CONFIDENTIALITY; AND (3) IMPLICATIONS OF SUCH SYSTEMS ON THE AVAILABILITY OF CREDIT. THE CONSUMER ASPECTS OF EFT FALL INTO FIVE MAJOR AREAS: THE RIGHT OF PRIVACY, SECURITY, LEGAL RIGHTS AND DUTIES, CONSUMER CHOICE, AND CONSUMER CONVENIENCE. IN THIS REGARD, THE TESTIMONY OF CONSUMER GROUPS, STATE AND FEDERAL CONSUMER PROTECTION GROUPS, FINANCIAL AND NONFINANCIAL INSTITUTIONS WITH CONSUMER EXPERIENCE, TRADE AND INDUSTRY ASSOCIATIONS, AND THE PUBLIC AT-LARGE WAS SOLICITED DURING OPEN HEARINGS. THE VERBATIM TESTIMONY OF THE FOLLOWING GROUPS AND INSTITUTIONS IS PRESENTED: COLUMBIA UNIVERSITY, THE INDEPENDENT BANKERS ASSOCIATION OF AMERICA, THE PROVIDENT NATIONAL BANK, THE AMERICAN CIVIL LIBERTIES UNION, THE MASSACHUSETTS COMMISSIONER OF BANKS, THE SENATE CORPORATE AND ECONOMIC DEVELOPMENT COMMITTEE, THE SYRACUSE (N.Y.) OFFICE OF CONSUMER AFFAIRS, THE NATIONAL CONSUMER FINANCE ASSOCIATION, THE NATIONAL CONSUMER INFORMATION CENTER, THE SUBCOMMITTEE OF THE EDITORIAL BOARD OF THE UNIFORM COMMERCIAL CODE, THE NATIONAL ASSOCIATION OF FOOD CHAINS AND SUPERMARKET INSTITUTE, AND THE MERCANTILE BANK SHARES CORPORATION. LISTS OF BOTH THE COMMISSIONERS AND THE COMMISSION STAFF ARE PROVIDED.