What is a zero liability policy for credit card fraud?

A zero liability policy for credit card fraud is a type of consumer protection that covers fraudulent charges made on a consumer’s credit card. This policy provides assurance that the cardholder will not have to pay for any fraudulent charges made with their card. In the state of Georgia, zero liability policies for credit card fraud are required by the Georgia Fair Credit Act. This law was established in 2003 to provide protection for consumers against unauthorized charges, as well as to protect against merchant errors. This includes fraudulent charges that are charged to a credit card due to identity theft, theft of a physical card, or the misuse of a card number. Under this policy, the consumer is not held financially responsible for any fraudulent charges that were not authorized by the consumer. Additionally, if a consumer reports the fraudulent activity in a timely manner, the consumer may not be liable for any losses that occurred due to the fraudulent charges. Credit card companies are also required to reimburse any bank account or other financial accounts that were affected by the fraudulent transactions. Ultimately, the goal of a zero liability policy for credit card fraud is to help protect consumers from the risks associated with fraudulent charges and to ensure that cardholders are not held financially responsible for fraudulent activity on their cards.

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What is a zero liability policy for credit card fraud?

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