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.
In 1976 the NBA absorbed four teams from the American Basketball Association (ABA), which disbanded that year. By the early 1980s the NBA was plagued by money-losing franchises, low attendance, declining television ratings, and limited national appeal. The league soon rebounded under the leadership of David Stern, NBA commissioner from 1984, who helped transform it into an international entertainment company.