Discussion Paper

Credit, debit, or ACH: consequences & liabilities a comparison of the differences in consumer liabilities

Abstract: A number of recent initiatives have encouraged use of debit cards and ACH debits/credits for Internet sales transactions. This paper outlines the different statutory and regulatory protections available to consumers and financial institution based upon the method by which payment is made.

Keywords: Credit cards; Clearinghouses (Banking); Debit cards;

Bibliographic Information

Provider: Federal Reserve Bank of Chicago

Part of Series: Occasional Paper; Emerging Payments

Publication Date: 2001

Number: EPS-2001-3