A lot of people assume financial laws only care about dollars and cents, but the EFTA is a good example of why that’s not true. When unauthorized transfers or frozen accounts happen, the stress and anxiety can be just as damaging as the money loss itself. This article does a solid job explaining why emotional distress can qualify as actual damages under the EFTA and how courts have looked at that issue: https://consumerattorneys.com/article/actual-damages-under-efta-include-emotional-distress. It’s helpful for anyone who’s been told their experience “doesn’t count” because it’s not neatly itemized.
A lot of people assume financial laws only care about dollars and cents, but the EFTA is a good example of why that’s not true. When unauthorized transfers or frozen accounts happen, the stress and anxiety can be just as damaging as the money loss itself. This article does a solid job explaining why emotional distress can qualify as actual damages under the EFTA and how courts have looked at that issue: https://consumerattorneys.com/article/actual-damages-under-efta-include-emotional-distress. It’s helpful for anyone who’s been told their experience “doesn’t count” because it’s not neatly itemized.