Chargeback Rules: What Laws & Regulations Govern the Dispute Process?
Fi911
JANUARY 4, 2024
It mandated the creation of the chargeback process, limiting customer liability in fraud cases and allowing cardholders to dispute deceptive merchant practices. The Electronic Fund Transfer Act (EFTA) Enacted in 1978, EFTA regulates bank responses to consumer complaints and sets liability limits for lost or stolen debit cards.
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