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. When Britney receives her Campus Bank statement, she demands that the bank investigate the matter and recredit his account. The bank
A) has no duty to investigate.
B) must investigate and, if the dispute is not resolved within ten days, recredit Britney'saccount (at least until the dispute is resolved).
C) must investigate and immediately recredit Britney'saccount (at least until the dispute is resolved).
D) must investigate but need not recredit Britney's account.

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. When Britney receives her Campus Bank statement, she demands that the bank investigate the matter and recredit his account. The bank​
A) has no duty to investigate.
B) must investigate and, if the dispute is not resolved within ten days, recredit Britney'saccount (at least until the dispute is resolved).
C) ​must investigate and immediately recredit Britney'saccount (at least until the dispute is resolved).
D) ​must investigate but need not recredit Britney's account.

Quizplus · Accepted Answer

According to the Electronic Fund Transfer Act (EFTA), Britney has up to 60 days to report unauthorized transactions. She reported the loss of her card within that timeframe, and therefore, the bank must investigate the matter and recredit her account if the dispute is not resolved within ten days. However, the bank is not required to immediately recredit her account.

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