Payment Systems: Debit Cards Podcast

The topic of this podcast is to introduce the basic attributes of debit cards and how the payment system handles error and fraud. Debit cards are governed by the rules of the federal government’s Consumer Financial Protection Bureau (CFPB) contained in Regulation E. This podcast discusses Regulation E, including issuance of debit cards, disclosures, liability for unauthorized transactions, and even overdraft protection. At the conclusion of this podcast, you should be able to (1) identify the primary attributes of debit card transactions; (2) describe the applicable legal rules for their use; and (3) describe the defenses for unauthorized charges, including the rules associated with notice by the consumer to the bank.