AB277: Bill Text

AB277,21,3 8. If an agreement between the customer and the credit union imposes less liability than is provided by this section, the customer's liability may not exceed the amount imposed under the agreement.

AB277,48 Section 48. DFI-CU 63.07 (2) (b) of the administrative code is amended to read:

AB277,21,10 DFI-CU 63.07 (2) (b) A customer furnishing another person with a plastic card or other means of access device to the customer's account through a remote terminal shall be deemed to authorize all transactions that may be accomplished by that means, until the customer has given actual notice to the credit union that further transactions are unauthorized.

AB277,49 Section 49. DFI-CU 63.08 (2) (intro.) of the administrative code is amended to read:

AB277,21,21 DFI-CU 63.08 (2) Transaction documentation. (intro.) Every Except as provided in sub. (4), every transfer of funds through a remote terminal made by a customer of a credit union shall be evidenced by a written document made available to the customer at the time of the transaction. The document shall indicate with reasonable specificity the identity of any third party to whom funds are electronically transferred, the identity of the customer's account, the amount of funds transferred, the type of transaction, and the date of the transaction. A customer may be required to reenter an access device, such as a card, at a terminal in order to receive transaction documentation if all of the following conditions are met:

AB277,50 Section 50. DFI-CU 63.08 (4) of the administrative code is created to read:

AB277,21,25 DFI-CU 63.08 (4) Exception for written document in small-value transfers. A credit union is not subject to the requirement to make available a written document under sub. (2) if the amount of the transfer is $15 or less.

AB277,51 Section 51. DFI-CU 63.09 of the administrative code is repealed.

AB277,52 Section 52. DFI-SB 12.07 (2) (a) (intro.) of the administrative code is amended to read:

AB277,22,7 DFI-SB 12.07 (2) (a) (intro.) The liability of a customer of a savings bank for the unauthorized use of a plastic card or other means providing the customer access device to a remote service unit may not exceed the lesser of the following shall be determined as follows:

AB277,53 Section 53. DFI-SB 12.07 (2) (a) 1. and 2. of the administrative code are repealed.

AB277,54 Section 54. DFI-SB 12.07 (2) (a) 3., 4., 5., 6., 7. and 8. of the administrative code are created to read:

AB277,22,15 DFI-SB 12.07 (2) (a) 3. If the customer notifies the savings bank within 2 business days after learning of the unauthorized use or of loss or theft of the plastic card or other access device, the customer's liability may not exceed the lesser of $50 or the amount of unauthorized transfers that occur before notice to the savings bank.

AB277,22,19 4. If the customer fails to notify the savings bank within 2 business days after learning of the unauthorized use or of loss or theft of the plastic card or other access device, the customer's liability may not exceed the lesser of $500 or the sum of all of the following:

AB277,22,21 a. $50 or the amount of unauthorized transfers that occur within the 2 business days, whichever is less.

AB277,22,25 b. The amount of unauthorized transfers that occur after the close of 2 business days and before notice to the savings bank, if the savings bank establishes that these transfers would not have occurred had the customer notified the savings bank within that 2-day period.

AB277,23,10 5. A customer must report an unauthorized transfer from the unauthorized use of a plastic card or other access device to a remote service unit that appears on a periodic statement within 60 days of the savings bank's transmittal of the statement to avoid liability for subsequent transfers. If the customer fails to do so, the customer's liability may not exceed the amount of the unauthorized transfers that occur after the close of the 60 days and before notice to the savings bank and that the savings bank establishes would not have occurred had the customer notified the savings bank within the 60-day period. When a plastic card or other access device is involved in the unauthorized transfer, the customer may be liable for other amounts set forth in subd. 3. or 4., as applicable.

AB277,23,13 6. If the customer's delay in notifying the savings bank as provided in subd. 5. was due to extenuating circumstances, the savings bank shall extend the time specified in subd. 5. to a reasonable period.

AB277,23,16 7. a. Notice to a savings bank is given when a customer takes steps reasonably necessary to provide the savings bank with the pertinent information, whether or not a particular employee or agent of the savings bank actually receives the information.

AB277,23,18 b. A customer may notify the savings bank in person, by telephone, or in writing.

AB277,23,23 c. Written notice is considered given at the time the customer mails the notice or delivers it for transmission to the savings bank by any other usual means. Notice may be considered constructively given when the savings bank becomes aware of circumstances leading to the reasonable belief that an unauthorized transfer to or from the customer's account has been or may be made.

AB277,24,3 8. If an agreement between the customer and the savings bank imposes less liability than is provided by this section, the customer's liability may not exceed the amount imposed under the agreement.

AB277,55 Section 55. DFI-SB 12.07 (2) (b) of the administrative code is amended to read:

AB277,24,10 DFI-SB 12.07 (2) (b) A customer furnishing another person with the plastic card or other means providing access device to the customer's account through a remote service unit shall be deemed to authorize all transactions that may be accomplished by that means until the customer has given actual notice to the savings bank that further transactions are unauthorized.

AB277,56 Section 56. DFI-SB 12.08 (2) (intro.) of the administrative code is amended to read:

AB277,24,21 DFI-SB 12.08 (2) Transaction documentation. (intro.) Every Except as provided in sub. (4), every transfer of funds made through a remote service unit by a customer of a savings bank shall be evidenced by a written document made available to the customer at the time of the transaction. The document shall indicate with reasonable specificity the identity of any third party to whom funds are electronically transferred, the identity of the customer's account, the amount of funds transferred, the type of transaction and the date of the transaction. A customer may be required to reenter an access device, such as a card, at a terminal in order to receive transaction documentation if all the following conditions are met:

AB277,57 Section 57. DFI-SB 12.08 (4) of the administrative code is created to read:

AB277,24,25 DFI-SB 12.08 (4) Exception for written document in small-value transfers. A savings bank is not subject to the requirement to make available a written document under sub. (2) if the amount of the transfer is $15 or less.

AB277,58 Section 58. DFI-SB 12.09 of the administrative code is repealed.

AB277,59 Section 59. DFI-SL 12.07 (2) (a) (intro.) of the administrative code is amended to read:

AB277,25,7 DFI-SL 12.07 (2) (a) (intro.) The liability of a customer of an association for the unauthorized use of a plastic card or other means providing the customer access device to a remote service unit may not exceed the lesser of the following shall be determined as follows:

AB277,60 Section 60. DFI-SL 12.07 (2) (a) 1. and 2. of the administrative code are repealed.

AB277,61 Section 61. DFI-SL 12.07 (2) (a) 3., 4., 5., 6., 7. and 8. of the administrative code are created to read:

AB277,25,15 DFI-SL 12.07 (2) (a) 3. If the customer notifies the association within 2 business days after learning of the unauthorized use or of loss or theft of the plastic card or other access device, the customer's liability may not exceed the lesser of $50 or the amount of unauthorized transfers that occur before notice to the association.

AB277,25,19 4. If the customer fails to notify the association within 2 business days after learning of the unauthorized use or of loss or theft of the plastic card or other access device, the customer's liability may not exceed the lesser of $500 or the sum of all of the following:

AB277,25,21 a. $50 or the amount of unauthorized transfers that occur within the 2 business days, whichever is less.

AB277,25,25 b. The amount of unauthorized transfers that occur after the close of 2 business days and before notice to the association, if the association establishes that these transfers would not have occurred had the customer notified the association within that 2-day period.

AB277,26,10 5. A customer must report an unauthorized transfer from the unauthorized use of a plastic card or other access device to a remote service unit that appears on a periodic statement within 60 days of the association's transmittal of the statement to avoid liability for subsequent transfers. If the customer fails to do so, the customer's liability may not exceed the amount of the unauthorized transfers that occur after the close of the 60 days and before notice to the association and that the association establishes would not have occurred had the customer notified the association within the 60-day period. When a plastic card or other access device is involved in the unauthorized transfer, the customer may be liable for other amounts set forth in subd. 3. or 4., as applicable.

AB277,26,13 6. If the customer's delay in notifying the association as provided in subd. 5. was due to extenuating circumstances, the association shall extend the time specified in subd. 5. to a reasonable period.

AB277,26,16 7. a. Notice to an association is given when a customer takes steps reasonably necessary to provide the association with the pertinent information, whether or not a particular employee or agent of the association actually receives the information.

AB277,26,17 b. A customer may notify the association in person, by telephone, or in writing.

AB277,26,22 c. Written notice is considered given at the time the customer mails the notice or delivers it for transmission to the association by any other usual means. Notice may be considered constructively given when the association becomes aware of circumstances leading to the reasonable belief that an unauthorized transfer to or from the customer's account has been or may be made.

AB277,26,25 8. If an agreement between the customer and the association imposes less liability than is provided by this section, the customer's liability may not exceed the amount imposed under the agreement.

AB277,62 Section 62. DFI-SL 12.07 (2) (b) of the administrative code is amended to read:

AB277,27,6 DFI-SL 12.07 (2) (b) A customer furnishing another person with the plastic card or other means providing access device to the customer's account through a remote service unit shall be deemed to authorize all transactions that may be accomplished by that means until the customer has given actual notice to the association that further transactions are unauthorized.

AB277,63 Section 63. DFI-SL 12.08 (2) (intro.) of the administrative code is amended to read:

AB277,27,17 DFI-SL 12.08 (2) Transaction documentation. (intro.) Every Except as provided in sub. (4), every transfer of funds made through a remote service unit by a customer of an association shall be evidenced by a written document made available to the customer at the time of the transaction. The document shall indicate with reasonable specificity the identity of any third party to whom funds are electronically transferred, the identity of the customer's account, the amount of funds transferred, the type of transaction and the date of the transaction. A customer may be required to reenter an access device, such as a card, at a terminal in order to receive transaction documentation if all the following conditions are met:

AB277,64 Section 64. DFI-SL 12.08 (4) of the administrative code is created to read:

AB277,27,21 DFI-SL 12.08 (4) Exception for written document in small-value transfers. An association is not subject to the requirement to make available a written document under sub. (2) if the amount of the transfer is $15 or less.

AB277,65 Section 65. DFI-SL 12.09 of the administrative code is repealed.

AB277,66 Section 66. Effective dates. This act takes effect on the day after publication, except as follows:

AB277,28,2 (1) The treatment of section 35.93 (2) (b) 4. and (c) 1. and (3) (e) (intro.) and 1. of the statutes takes effect on January 1, 2015.

AB277,28,3 (End)