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In Business / College | 2025-07-07

Read the following statements and determine which, if any, are required by federal and state regulations with regard to lost or stolen cards. Check all that apply.
A. A customer may be liable for a $50 loss due to unauthorized withdrawals if their card is lost or stolen and the customer notifies the financial institution within two business days.
B. A customer is never liable for unauthorized withdrawals if their card is lost or stolen.
C. A customer is responsible for any unauthorized withdrawals if their card is lost or stolen, regardless of how quickly they report the card.

Asked by Jrmille9

Answer (1)

Customers can be liable for up to $50 in losses if they report a lost or stolen card within two business days. If they do not report timely, liability can increase. Nonetheless, customers are generally protected against unauthorized transactions if they report promptly. ;

Answered by GinnyAnswer | 2025-07-07