By: Robert J. Nahoum The Short Answer: Credit Cards Are Safer If your wallet is stolen or your card details are compromised, a credit card is significantly safer than a debit card due to federal liability limits and the source of funds during a dispute. When fraud occurs on a credit card, you are fighting with the bank’s money. Your liability is capped at $50, […]
Debit Card vs. Credit Card: Which Is Safer from Fraud in 2026?
Electronic Funds Transfer Act vs. Fair Credit Billing Act: Key Differences, Damages and Consumer Rights
By: Robert J. Nahoum The Electronic Funds Transfer Act (EFTA), 15 U.S.C. §1693 et seq., governs electronic transfers from consumer bank accounts, including debit‑card, ATM, online banking, and app‑based transfers. The Fair Credit Billing Act (FCBA), 15 U.S.C. §1666, governs “open‑end” credit accounts, such as credit cards, and provides a dispute process for billing errors and unauthorized charges. What the EFTA Covers […]
Electronic Funds Transfer Act (EFTA) FAQs: Your Rights After Unauthorized Transfers and Banking Errors
By: Robert J. Nahoum What is the Electronic Funds Transfer Act (EFTA)? The Electronic Funds Transfer Act is a federal law, codified at 15 U.S.C. § 1693 et seq., that protects individual consumers who use electronic methods to move money, such as ATM withdrawals, debit card purchases, point‑of‑sale transactions, ACH transfers, and certain wire or remittance transfers. Its purpose is […]
Electronic Funds Transfer Act Timelines: Deadlines for Consumers and Banks After Unauthorized Transfers
By: Robert J. Nahoum Why EFTA Timelines Matter Under the Electronic Funds Transfer Act (EFTA) and Regulation E, strict timelines control when consumers must report unauthorized electronic transfers and how quickly banks must investigate and resolve those disputes. Missing these deadlines can shift thousands of dollars of loss from the bank onto the consumer. Understanding these timelines is critical for […]
How Bank Representative Impersonation Scams Work
By: Robert J. Nahoum Bank representative impersonation scams have surged in recent years as fraudsters use increasingly convincing tactics to trick consumers into sending money or revealing account access. These scams often begin with a phone call, text, or email that appears to come from your bank. The scammer might spoof the bank’s legitimate phone number or email address, making […]
What to Do When Your Bank Account Is Hacked
What to Do When Your Bank Account Is Hacked By: Robert J. Nahoum THE PROBLEM Your bank account has been hacked, money has been taken without your authorization, and your bank refuses to refund you the stolen money. As cascade of problems overwhelms you – without your money, you can’t afford to pay your […]