Skip to main content
S 1154 105th Congress Senate Finance and Financial Sector Commerce Consumer credit Consumer education Consumer protection Crime and Law Enforcement Debit cards Electronic funds transfers Fingerprints Identification devices Larceny Law Liability (Law) Photography Science, Technology, Communications

Dual-Use Debit Cardholder Protection Act of 1997

Introduced: September 9, 1997 Introduced by: Reed, Jack Democratic · Rhode Island See on congress.gov
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 9, 1997
Read twice and referred to the Committee on Banking.
Sep 9, 1997
Introduced in Senate
 Plain-English summary Congressional Research Service

Dual-Use Debit Cardholder Protection Act of 1997 - Amends the Electronic Fund Transfer Act to impose consumer liability for unauthorized electronic fund transfers only if the issuer has provided a unique identifier, such as a photograph (as under current law), retina scan, and other named devices with which the user can be identified as the authorized person. Eliminates a signature as such a unique identifier.

Cites circumstances under which a consumer shall be liable for an unauthorized electronic fund transfer not exceeding $50 if the transfer did not require the use of a unique identifier, such as a photograph, fingerprint, or retina scan.

Precludes consumer liability for unauthorized electronic fund transfers in the absence of a consumer's timely receipt of notice of liability for such transfers, and of the advisability of prompt reporting of any loss, theft, or unauthorized use.

Prohibits the issuance of dual-use debit cards to initiate an electronic fund transfer without the use of a unique identifier unless certain statutory requirements are met, and the issuer has provided a clear and conspicuous disclosure that the use of such card may not require the use of a unique identifier.

What's happening now September 9, 1997

Read twice and referred to the Committee on Banking.

 Committees of jurisdiction 1