§1693g Consumer liability

Summary

You are only responsible for an unauthorized electronic transfer from your account if the card or other way to get into your account was one the bank accepted and the bank had set up a way to identify the user (for example, by signature, photo, fingerprint, or electronic check). Your total loss can never be more than $50 or the amount taken before the bank is notified or reasonably finds out, whichever is less. Telling the bank is enough when you take the normal steps a bank would need to learn about the problem, even if a specific employee does not hear it. If there is a dispute, the bank must prove the transfer was allowed or must prove the rules above were met. If the transfer happened after the effective date of section 1693c, the bank must also show it gave the required consumer disclosures. If an overdraft credit agreement is also involved, the limit on your liability is set only by these rules. These rules do not make you pay more than other laws or agreements allow. Except as described here, you are not liable for unauthorized electronic transfers.