3 items for Reg E liability

Answered by:

Question:

A customer had a charge out of his account six months ago. That’s old and means he has unlimited liability so we don’t have to investigate it. Is that right?

Answer:

No, that isn’t right. Liability rules are very confusing. First, there is no statute of limitations on making a claim. Next, the consumer’s liability depends on when they discovered the loss, when they reported it, and when the withdrawals happened. Liability limits are tiered based on these.
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Learn more about Andy Zavoina’s webinar A to Z of Reg E