If a customer's debit card is lost or stolen and used without his or her permission, the customer is required to pay the full amount.

Question

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Under U.S. federal law, if a debit card is reported lost or stolen before any unauthorized charges occur, the customer is not liable. If reported within two business days, liability is limited to $50. After two days, liability can increase up to $500, and beyond 60 days, the customer may be responsible for all unauthorized charges.

If a Customer's Debit Card Is Lost or Stolen and Used