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Notifying Customer of Compromised Debit Card

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Question: 
What regulation states the bank has to notify the customer if his or her debit card has possibly been compromised?
Answer: 

If it is a data breach the FFIEC IT procedures require that you have an action plan. You may also visit this interagency guidance document on safeguarding customer information. State laws may also apply with restrictions and actions you are required to take.

First published on BankersOnline.com 3/09/09

First published on 03/09/2009

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