does efta cover lost cards 
yes but its protections are limited efta limits your liability for spending on a lost or stolen card to 50 only if you notify the bank or credit union within two business days of your debit card being lost or stolen for this and other reasons the right to dispute undelivered purchases for example consumers who shop online should use a credit card 3the bottom linethe electronic fund transfer act efta is a federal law that was passed in 1978 it provides important protections to consumers when they transfer funds electronically including through the use of debit cards automated teller machines atms and automatic withdrawals from a bank account the efta provides a way for transactions to be reviewed and errors to be corrected it also limits a bank s liability if a card is lost or stolen as long as this is reported within 60 days the efta also imposes responsibilities on financial institutions requiring them to disclose important information about the way that they manage accounts 