If you lose your wallet along with your bank ATM card,your liability is

Question

Quizplus · Accepted Answer

According to the Electronic Fund Transfer Act, if you report a lost or stolen ATM or debit card within two days of discovering the loss, your liability is limited to $50. If you wait longer than two days but report the loss within 60 days, your liability increases to $500. If you wait more than 60 days to report the loss, you could be liable for the full amount of any unauthorized transactions made with your card. Therefore, the best choice is D, limited to $50 if you notify the bank within 2 days.

If You Lose Your Wallet Along with Your Bank ATM