Question

Delilah's debit card, issued by Encarta Bank, is stolen and used without Delilah's permission. Delilah tells the bank within thirty days. Delilah may be required to pay no more than:__________A. $5.B. $50.C. $500.D. $5,000.

Answer 1

Delilah may be required to pay no more than $50 for unauthorized charges on her stolen debit card if she reports it to the bank within 2 business days.

Step-by-step explanation:

Delilah may be required to pay no more than $50 (option B).

According to the Electronic Fund Transfer Act (EFTA), if Delilah reports the theft of her debit card to the bank within 2 business days, she will be liable for a maximum of $50 in unauthorized charges.

If Delilah reports the theft after 2 business days but within 60 calendar days, her liability can increase to a maximum of $500 (option C).

However, if Delilah waits more than 60 calendar days to report the theft, she could be held responsible for the full amount of unauthorized charges (option D).

Answer 2

C. $500.

Step-by-step explanation:

The Electronic Fund Transfer Act (EFTA) establishes that the owner of a stolen debit card is liable up to $500 for any transaction made by the thief if you report the incident after 2 business days but before 60 business days of occurring.

If Delilah reported the theft within 2 business days after the card was stolen, the customer is liable for up to $50, and if you report it before any fraud has occurred then you are not responsible for any amount.