Massachusetts H1081 mandates banks to reimburse customers for fraudulent charges within 30 days.

Massachusetts H1081 amends Chapter 167 of the General Laws to require banks to reimburse customers for any money lost due to fraudulent charges on their accounts within 30 days. The bill also classifies failure to reimburse customers as an unfair practice under section 2D. This legislation aims to protect customers from financial loss due to fraud and ensure timely reimbursement by banks.

Massachusetts H1081 mandates banks to reimburse customers for fraudulent charges within 30 days.

Massachusetts H1081 amends Chapter 167 of the General Laws to require banks to reimburse customers for any money lost due to fraudulent charges on their accounts within 30 days. The bill also classifies failure to reimburse customers as an unfair practice under section 2D. This legislation aims to protect customers from financial loss due to fraud and ensure timely reimbursement by banks.