CONGRESS HAS PROVIDED CONSUMERS WITH MAJOR PRIVATE LEGAL RIGHTS IN THE EMERGING FIELD OF PAPERLESS BANK TRANSACTIONS BY PASSING THE ELECTRONIC FUNDS TRANSFER ACT. THIS ACT ADDS TITLE IX TO THE CONSUMER CREDIT PROTECTION ACT. AS OF JANUARY 1979, THERE WILL BE A $50-LIABILITY CEILING FOR CONSUMERS DAMAGED BY MOST TYPES OF UNAUTHORIZED USE OF THEIR ELECTRONIC BANK ACCOUNTS. BANK INSTITUTIONS DO NOT HAVE TO REIMBURSE LOSSES IN EXCESS OF THIS AMOUNT IF THEY ESTABLISH THAT THE CONSUMER'S FAILURE TO REPORT IRREGULARITIES WITHIN 60 DAYS OF THE RECEIPT OF THE BANK STAEMENT OR TO REPORT WITHIN 2 BUSINESS DAYS THE LOSS OR THEFT OF A CARD WAS THE 'BUT FOR' CAUSE OF LOSSES OVER $50. EFFECTIVE IN MAY 1980, CONSUMERS WILL BE AFFORDED MORE EXTENSIVE RIGHTS THAT PROVIDE FOR ERROR RESOLUTION, PRIVATE ACTIONS FOR DAMAGES, SPECIAL DISCLOSURE RIGHTS, AND RULES PROHIBITING THE COMPULSORY USE OF ELECTRONIC TRANSFERS. THE FEDERAL TRADE COMMISSION SUPPORTS REGULATION TO LIMIT THE COLLECTION PROVISIONS OF CONSUMER CREDIT CONTRACTS. AS THE RESULT OF AN APPARENT OVERSIGHT BY CONGRESS, ALL STUDENT LOANS WILL BE DISCHARGEABLE IN BANKRUPTCY FOR DEBTORS WHO FILE THEIR PETITIONS BETWEEN THE TIME PRESIDENT CARTER SIGNS H.R. 8200 (A BILL TO MAKE FEDERALLY-INSURED STUDENT LOANS NONDISCHARGEABLE IN BANKRUPTCY) AND OCTOBER 1, 1979 WHEN THE BILL GOES INTO EFFECT. A COURT CASE IN MICHIGAN HAS HELD THAT MOTORISTS ARE CONSTITUTIONALLY ENTITLED TO HAVE NO-FAULT INSURANCE MADE AVAILABLE ON A FAIR AND EQUITABLE BASIS. LEGISLATION TO SIMPLIFY TRUTH IN LENDING REQUIREMENTS HAS NOT BEEN PASSED, AND A FORMA PAUPERIS PETITION FILED BY A TRUTH IN LENDING PLAINTIFF HAS BEEN DENIED. (DEP)