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MC Debit Cards and Limits on Liability

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Question: 
As an issuer of MC branded Debit cards, are we required to provide the Additional Limits on Liability for MasterCard branded debit cards aka zero liability section. With recent changes at MC, the unauthorized transfer section of the Reg E disclosure will need updating. We would like to notify existing card holders of the change, but remove the paragraph for new customers. We have this query into our MC representative but no response yet.
Answer: 

You can't opt out of that coverage. It's part of the deal for being able to issue MasterCard-branded cards.

First published on 08/18/2014

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