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The Commission's functions were as follows:
|“|| The Commission shall conduct a thorough study and investigation and recommend appropriate administrative action and legislation necessary in connection with the possible development of public or private electronic fund transfer systems, taking into account, among other things —
The Commission issued the following reports:
- EFT and the Public Interest
- EFT in the United States: Policy Recommendations and the Public Interest (Final Report)
Privacy issues Edit
In 1977, the Commission recognized that EFT privacy concerns could be especially strong. NCEFT devoted 19 recommendations to means of protecting privacy.
Only a few of the NCEFT recommendations were reflected in the two EFT-related laws enacted since 1977 — the Electronic Funds Transfer Act of 1978 (and Federal Reserve Regulation E) and the Right to Financial Privacy Act of 1978.