The Electronic Fund Transfer Act, along with Regulation E, provides the consumer's liability is $50 if the financial institution is notified within 60 days about the loss of a consumer's electronic fund transfer card.

Question

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The consumer's liability is limited to $50 if the financial institution is notified within 2 business days, not 60 days. If notified within 60 days, the liability can be up to $500.

The Electronic Fund Transfer Act, Along with Regulation E, Provides