Consumers have the responsibility to examine periodic statements provided by their financial institutions. If a loss would not have occurred but for the failure of a consumer to report within __________ of the transmittal of the statement any unauthorized transfer, the loss is borne by the consumer.

Question

Quizplus · Accepted Answer

Under most circumstances, consumers are protected under the Electronic Fund Transfer Act, which requires them to report any unauthorized transactions within sixty (60) days of the statement transmittal to limit their liability for those transactions.

Consumers Have the Responsibility to Examine Periodic Statements Provided by Their