Which of the following is the limit set on consumers' credit card fraud liability by Federal law?
A)$50
B)$100
C)$150
D)$200

Question

Quizplus · Accepted Answer

According to Federal law, consumers' credit card fraud liability is limited to a maximum of $50, provided that the consumer reports the fraudulent activity within two business days. If the consumer fails to report the fraud within the two-day limit, the limit may increase up to $500. Therefore, the best choice is A, which is the limit set by Federal law.

Which of the Following Is the Limit Set on Consumers