If a customer notifies the issuing bank within two days of learning that his or her debit card has been lost or stolen, the customer is liable for only $100 for unauthorized use.

Question

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Under the Electronic Fund Transfer Act, if a customer notifies the issuing bank within two business days of learning that his or her debit card has been lost or stolen, the customer is liable for no more than $50 for unauthorized use.

If a Customer Notifies the Issuing Bank Within Two Days