Section DFI-CU 63.07 - Allocation of liability(1) BETWEEN CREDIT UNION AND THIRD PARTIES. Each activity authorized under s. 186.113(15), Stats., shall be conducted in accordance with a written agreement between the credit union and any participating merchant, service center, data processor or other third party, setting out the manner in which liability from errors, malfunctions or the unauthorized use of a remote terminal will be allocated between the parties.(2) LIMITED CUSTOMER LIABILITY FOR UNAUTHORIZED USE.(a) The liability of a customer of a credit union for the unauthorized use of a plastic card or other means providing the customer access to a remote terminal may not exceed the lesser of the following:2. The amount of any money, property or services obtained by its unauthorized use prior to the time the credit union is notified of, or otherwise becomes aware of, circumstances which lead to the belief that unauthorized access to the customer's account may be obtained. Notice is sufficient when the customer takes such steps as may reasonably be required in the ordinary course of business to provide the credit union with the pertinent information.(b) A customer furnishing another person with a plastic card or other means of access to the customer's account through a remote terminal shall be deemed to authorize all transactions that may be accomplished by that means, until the customer has given actual notice to the credit union that further transactions are unauthorized.Wis. Admin. Code Department of Financial Institutions DFI-CU 63.07
CR Register, March, 1978, No. 267, eff. 4-1-78.