Section 6517 Of Article 1. General Powers From California Financial Code >> Division 2. >> Chapter 4. >> Article 1.

. Subject to Regulation E (12 CFR Part 205) and to rules and regulations of the commissioner, an association may transfer funds between holders of savings accounts, and third parties, or their designees, by means of an electronic funds transfer system. No system or any part of it, including terminals or processing centers, shall of itself be considered a branch office or agency.