Difference in credit union is organized vs commercial bank

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Reference no: EM131844561

1. Assume that you had $1,200 in your checking account. You lost your debit card on June 1. A “thief” withdrew all $1,200 from your account on June 5. You finally report the loss to your bank on June 9. What is the dollar amount of your loss?

2. What’s the biggest difference in the way the Credit Union is organized vs a Commercial Bank?

3. Why is it more secure for you to use a PIN-only debit card versus a signature-based card?

4. You lose your credit card on Monday, August 25. I find it on August 26. I use your credit card to purchase $593 dollars of textbooks from Amazon.com on August 27. I paid $71 extra to have the books shipped overnight. For what amount are you liable ASSUMING that you report the stolen card on August 29?

Reference no: EM131844561

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