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 1951 through 1953 playoffs changed the division finals into a best-of-five playoff. With only nine league members in 1953â54, the NBA cut its postseason tournament field from eight teams to six (from 1954 through 1966, the period of eight to nine league members).