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The ISBA Defines Limits to Liability in Debit and Credit Fraud Cases

Question: If a credit/debit card thief makes a purchase using the card, is the cardholder liable? Answer: Federal law limits a consumer’s liability in credit card fraud to a maximum of $50. The ceiling for debit card fraud is $500. If someone makes unauthorized transactions with your debit card number, but your card is not lost, you are not liable for those transactions if you report them within 60 days of your statement being sent to you.       For more information about Illinois law, visit If you have a legal question, send it to   Illinois Law Now is a series of newspaper and internet posts prepared by the Illinois State Bar Association that address legal issues of interest to the public. For additional information about the law, visit