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9 votes

Do US banks cover the loss of money in checking accounts due to identity theft or hacking through the FDIC or some other ways?

While the other answer covers what I would call "traditional" theft, there is another kind of fraud not covered by the law at present. This revolves around the "instant transfer" ...
Machavity's user avatar
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12 votes

Do US banks cover the loss of money in checking accounts due to identity theft or hacking through the FDIC or some other ways?

In these cases, do US banks cover the loss of money for the customers' checking accounts ? Generally, yes. For electronic fraud, the Electronic Fund Transfer Act provides a $0-50 customer liability ...
user71659's user avatar
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