Banking/commerce: Electronic funds transfer: Too much, too soon? The technology is available but the barriers of regulations, economies of scale, and consumer attitudes must be overcome

The National Commission on Electronic Fund Transfers, in a recent report to the U.S. Congress, stated that Americans soon will be able to dispense with cash and checks, to a large degree, and turn to computer systems for accommodating funds transfer and bill paying. And, the Commission stressed, they will be able to do so without fear of invasion of their privacy - if Congress enacts some safeguards.