Full Answer. The amount of time it takes to process a refund depends on two factors: the agency to which the payment was made, and the bank to which the customer belongs. By the Electronic Transfer Act, banks are given 10 business days to process refunds.
1950: The BAA was renamed as the National Basketball Association (NBA). With a three-division setup, 12 teams now qualified for the playoffs, with the top four teams from each division meeting in the best-of-3 division semifinals. The winners met in the best-of-3 division finals.
The postseason included just the league winners from 1903-68, then increased to four teams in 1969 after the leagues split into divisions. In the NFL, 12 of 32 teams make the playoffs. In both the NBA and NHL, 16 of 30 teams advance to the postseason.