Fact Pattern 20-1
Britney loses her Campus Bank access card. She realizes her loss the next day but waits a week to call the bank. Meanwhile, Drake finds and uses Britney's card to withdraw $3,000 from Britney's account.
-Refer to Fact Pattern 20-1. Britney is responsible for
A) $0.
B) $50.
C) $500.
D) $3,000.

Question

Fact Pattern 20-1
​Britney loses her Campus Bank access card. She realizes her loss the next day but waits a week to call the bank. Meanwhile, Drake finds and uses Britney's card to withdraw $3,000 from Britney's account.
-Refer to Fact Pattern 20-1. Britney is responsible for
A) ​$0.
B) ​$50.
C) ​$500.
D) ​$3,000.

Quizplus · Accepted Answer

Under the Electronic Fund Transfer Act, if a consumer reports a lost or stolen card within two business days, their liability is limited to $50. If reported within 60 days, the liability is limited to $500. Since Britney waited a week, she is liable for up to $500.

Fact Pattern 20-1 ​Britney Loses Her Campus Bank Access Card. She Realizes Her

Fact Pattern 20-1 Britney Loses Her Campus Bank Access Card. She Realizes Her