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a) Action or failure to act proximately causing damages

Subject to subsections (b) and (c), a financial institution shall be liable to a consumer for all damages proximately caused by—

(1)the financial institution’s failure to make an electronic fund transfer, in accordance with the terms and conditions of an account,in the correct amount or in a timely manner when properly instructed to do so by the consumer,except where—(A)the consumer’saccount has insufficient funds; (B)the funds are subject to legal process or other encumbrance restricting such transfer; (C)such transfer would exceed an established credit limit; (D)an electronic terminal has insufficient cash to complete the transaction; or (E)as otherwise provided in regulations of the Bureau;

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