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Debit Cards, Fraud & Reg E

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Question: 
I'm a banking newbie and I need to know if debit card transactions are considered EFT transactions. Is Reg E what determines consumer liability for fraudulent debit card transactions?
Answer: 

Debit card transactions in consumer accounts are most definitely covered by Reg E. Consumer liability is addressed in section 205.6 of the regulation and can be affected (but only to the consumer's benefit) by the rules of the card association (MasterCard or Visa, for example) covering the card.

First published on BankersOnline.com 2/25/08

First published on 02/25/2008

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