If your credit card is stolen and the thief runs up a total debt of $1,000, but you notify the issuer of the card as soon as you discover it is missing, what is the maximum amount that you can be forced to pay according to federal law?

Question

Quizplus · Accepted Answer

According to federal law, you are only responsible for up to $50 of fraudulent charges made on your stolen credit card, as long as you report the theft to the issuer as soon as possible.

If Your Credit Card Is Stolen and the Thief Runs