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Reg E Rules: Delay in Reporting a Lost/Stolen Card

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Question: 
What are the REG E rules concerning a delay by the cardholder of not reporting a lost/stolen card and additional transactions were processed? Example: Affidavit states card stolen 04/10, but blocked on Network 05/18.
Answer: 

The cardholder's delay can affect his liability for unauthorized transactions effected with the card, under Regulation E, section 205.6.

First published on BankersOnline.com 6/27/11

First published on 06/27/2011

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