Law Commons^™

Credit Or Debit? Unauthorized Use And Consumer Liability Under Federal Consumer Protection Legislation, Daniel M. Mroz

Northern Illinois University Law Review

Although debit cards may closely resemble credit cards in appearance, consumer liability for unauthorized use is not similar and the payment transaction initiated through use is very different. In response to the increasing use of debit card products, consumer protection issues concerning liability for unauthorized use have been raised, new legislation has been introduced to Congress and an extremely lucrative debit card market has prospered. Sections I through IV of this comment provide an overview of the federal Truth in Lending Act and of the federal Electronic Fund Transfer Act in relation to consumer liability issues concerning the use of …