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Article: U.S. Senator Reed Bill Proposes Limits on Liability for Debit Cards.(Originated from Providence Journal-Bulletin, R.I.)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- September 3, 1997
- Author:
CopyrightCOPYRIGHT 1997 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PROVIDENCE--Sep. 3--Responding to growing concerns about the perils of debit cards, U.S. Sen. Jack Reed yesterday announced plans to introduce legislation that would limit consumers' liability to $50 in the case of lost or stolen cards.
The bill, which is expected to be introduced in the Senate in Washington today, addresses a gap in federal laws which has left some consumers liable for unlimited losses in the case of fraudulent use of lost or stolen debit cards.
"Technology is creating new opportunities, but also new vulnerabilities," Reed said during a news conference with officials from Fleet Bank. "My legislation makes sure consumers are ...
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...By Neil Downing, The Providence Journal, R.I. Knight Ridder/Tribune Business News Aug. 2 ... way to participate is to register your credit cards and/or debit cards online at: www.upromise.com When you use the registered ...
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