Question 6 • FL-2102371-Personal Finance and Money Management
Read the scenario.A bank doesn't tell a customer promptly about an unauthorized electronic fund transfer, causing a big loss from the customer's account.What is likely to happen to the bank because of this, according to the regulations?
Answer
A
Apologizing to the customer will let the bank off the hook.
B
The lost money is added back to the customer's account automatically.
C
The customer has to pay for the whole unauthorized transaction.
D
The bank might get in trouble with the law for not following the Electronic Fund Transfer Act.