Question

"brenda lost her debit card. when she realized it was gone, her account had $173 in unauthorized charges. she notified her financial institution within two days. how much is she potentially liable for?"

Answer 1

Brenda's potential liability for unauthorized charges after reporting her lost debit card within two days is $50, as per the Electronic Fund Transfer Act.

Step-by-step explanation:

If Brenda lost her debit card and realized there were $173 in unauthorized charges, she would potentially be liable for $50 because she notified her financial institution within two business days. The Electronic Fund Transfer Act (EFTA) provides consumers with protection against unauthorized transactions. According to the EFTA, if Brenda reports the loss within two business days, her liability for unauthorized charges is limited to $50.

Answer 2

Brenda is potentially liable for $50 because she contacted her financial institution within two days. As the time you wait to notify your bank increases so does the monetary amount you are liable for.