Kruser
Kruser v. Bank of America NT&SA
Opinion
Opinion
Stone, J.
In this appeal we interpret the language of a federal banking regulation establishing the respective liabilities of a bank and a consumer for unauthorized electronic transfers of funds from the consumer’s account.
The Case
Appellants, Lawrence Kruser and Georgene Kruser, filed a complaint against Bank of America NT&SA (Bank) claiming damages for unauthorized electronic withdrawals from their account by someone using Mr. Kruser’s “Versatel” card. The trial court entered summary judgment in favor of the Bank because it determined appellants had failed to comply with the notice and reporting requirements of the Electronic Fund Transfer Act (EFTA). ( 15 U.S.C. § 1693 -1693r; 12 C.F.R. § 205.6 (b)(2).)
The Facts
The facts are undisputed:
The Krusers maintained a joint checking account with the Bank, and the Bank issued each of them a “Versatel” card and separate personal identification numbers which would allow access to funds in their account from automatic teller machines. The Krusers also received with their cards a “Disclosure Booklet” which provided to the Krusers a summary of consumer liability, the Bank’s business hours, and the address and telephone number by…