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0 pointsPH95VuimJjqBqy2y ago0 comments

stop with the FUD, debit cards also have federal laws protecting them and banks typically offer stronger fraud protections than even that.

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3 comments · 1 top-level

jjav2y ago· 2 in thread

That would be nice, can you point me at that federal regulation so I can learn about it?

> banks typically offer stronger

That's irrelevant since banks can change their ToS.

But if you have a link to the federal law/regulation please share.

PH95VuimJjqBqyOP2y ago

typical online alpha, you posted that challenge with full confidence didn't you?

lets see what ftc.gov has to say about it

https://www.consumerfinance.gov/ask-cfpb/how-do-i-get-my-mon...

oh what's that, there are federal protections surrounding debit cards?

imagine going into this conversation actually knowing what you're talking about.

/inb4 "I did some quick googling, let me explain how I'm going to try and change my argument to save face"

jjav2y ago

The tone of your comment is not welcome on HN:

https://news.ycombinator.com/newsguidelines.html

However, I appreciate the CFPB link. Having worked in fintech I'm familiar with them.

The link does corroborate that debit card protections are weaker than credit card protections. They have with more aggressive reporting requirements (2 days) and higher potential liability ($500, or even as much as the full amount in some circumstances, though unlikely).

This document has a handy table that compares the protections side by side. As you can see, debit card protections are weaker. Scroll down to the table "Federal Protections for Unauthorized Transactions":

https://www.experian.com/blogs/ask-experian/are-credit-cards...

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