Case summary: JF has opened a savings account, on November 25 he discovered that there are some fraudulent transactions in his account, by analyzing the liability of unauthorized transaction of ETFA it was discovered that he is under risk of unlimited loss.
Characters in the case : JF of Oxford, Mississippi.
Adequate information: JF has a savings account, experienced some fraudulent transactions. It is required to determine the risk JF has on account of this transactions. ETFA issued gu
To determine: The money J would lose because of fraudulent transactions in his account.
Introduction:
Liability on unauthorized transactions:The Electronic Funds Transfer Act (ETFA) is the governing law, also known as Regulation E, was implemented to protect consumers using electronic means to manage their finances. The financial institution must make sure that customer know their liability in case the card is lost or stolen. The financial institution should provide a phone number for reporting loss and description of its error resolution process and information on customer’s liability and his rights.
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Chapter 5 Solutions
MINDTAP FINANCE FOR GARMAN/FORGUE'S PER
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