Under Unauthorized Transfers-12 CFR 205

Under Unauthorized transfers-12 CFR 205.6 prerequisites for consumer liability are all of the following EXCEPT:

A) If an access device was used, it must have been an accepted access device
B) Institution must have provided a means of identifying the consumer to whom the device was issued (for example, by electronic means (PIN) , photograph, or fingerprint)
C) Increased liability for the consumer
D) Institution must have provided the following in writing to the consumer • A summary of consumer's liability for unauthorized transfers • Telephone number and address of person or office to be notified • in case of unauthorized transfer • Institution's business days

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free