Page:United States Statutes at Large Volume 92 Part 3.djvu/1102

 92 STAT. 3734

PUBLIC LAW 95-630—NOV. 10, 1978

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forty-tive days after receipt of notice of the error. During the pendency of the investigation, the consumer shall have full use of the funds provisionally recredited. "(d) If the financial institution determines after its investigation pursuant to subsection (a) or (c) that an error did not occur, it shall deliver or mail to the consumer an explanation of its findings within 3 business days after the conclusion of its investigation, and upon request of the consumer promptly deliver or mail to the consumer reproductions of all documents which the financial institution relied on to conclude that such error did not occur. The financial institution shall include notice of the right to request reproductions with the explanation of its findings. " (e) If in any action under section 915, the court finds that— "(1) the financial institution did not provisionally recredit a consumer's account within the ten-day period specified in subsection (c), and the financial institution (A) did not make a good faith investigation of the alleged error, or (B) did not have a reasonable basis for believing that the consumer's account was ,.. '.,. not in error; or " (2) the financial institution knowingly and willfully concluded that the consumer's account was not in error when such conclusion could not reasonably have been drawn from the evidence available to the financial institution at the time of its investigation, then the consumer shall be entitled to treble damages determined under section 915(a)(1). "(f) For the purpose of this section, an error consists of— "(1) an unauthorized electronic fund transfer; "(2) an incorrect electronic fund transfer from or to the consumer's account; "(3) the omission from a periodic statement of an electronic fund transfer affecting the consumer's account which should have been included; "(4) a computational error by the financial institution; "(5) the consumer's receipt of an incorrect amount of money from an electronic terminal; "(6) a consumer's request for additional information or clarification concerning an electronic fund transfer or any documentation required by this title; or " (7) any other error described in regulations of the Board. 15 USC I693g. "§ 909. Consumer liability for unauthorized transfers "(a) A consumer shall be liable for any unauthorized electronic fund transfer involving the account of such consumer only if the card or other means of access utilized for such transfer was an accepted card or other means of access and if the issuer of such card, code, or other means of access has provided a means whereby the user of such card, code, or other means of access can be identified as the erson authorized to use it, such as by signature, photograph, or ngerprint or by electronic or mechanical confirmation. In no event, however, shall a consumer's liability for an unauthorized transfer exceed the lesser of— "(l)$50;or "(2) the amount of money or value of property or services obtained in such unauthorized electronic fund transfer prior to the time the financial institution is notified of, or otherwise becomes aware of, circumstances which lead to the reasonable iiiii_ belief that an unauthorized electronic fund transfer involving the

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