S. 2200 · 113th Congress
Consumer Debit Card Protection Act of 2014
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
WarnerSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Consumer Debit Card Protection Act of 2014 - Amends the Electronic Fund Transfer Act to require a financial institution to recredit a consumer's account within 7 days (currently, 10 days) after receiving notice of an error in the manner of an electronic debit transaction.
What it does: CRS summary · Introduced in Senate · Apr 2, 2014
Consumer Debit Card Protection Act of 2014 - Amends the Electronic Fund Transfer Act to require a financial institution to recredit a consumer's account within 7 days (currently, 10 days) after receiving notice of an error in the manner of an electronic debit transaction.
Limits consumer liability for unauthorized use of a debit card to the following circumstances:
- the debit card is an accepted debit card;
- the liability does not exceed $50;
- the issuer has given the consumer a description of a means by which the issuer may be notified of loss or theft of the card;
- the unauthorized use occurs before the issuer has been notified of that fact or that an unauthorized use may occur as the result of loss, theft, or otherwise; and
- the issuer has provided a method whereby the card user can be identified as the person authorized to use the card.
States that an issuer has been notified when reasonable steps have been taken to give the issuer the pertinent information, whether or not any particular officer, employee, or agent of the issuer does in fact receive that information.
Places the the burden of proof upon the issuer to show that: (1) the use was authorized, or (2) the conditions of liability for the unauthorized use of a debit card have been met.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Consumer Debit Card Protection Act of 2014
Latest action (Apr 2, 2014): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Apr 2, 2014
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.