S. 4943 aims to amend the Electronic Fund Transfer Act to ensure that electronic fund transfers induced by fraud are treated the same way as unauthorized transfers. It updates definitions and establishes shared liability between financial institutions when such transfers...
Simple Explanation
S. 4943 wants to make sure that when someone tricks you into sending money online, it's treated the same way as if someone stole from you, helping to protect people from scammers by making banks share the blame if they mess up.