Zero Liability Online Banking
Don’t Take This Bait (but You’re Safe if You Do)
I could not find any online financial service — and I checked brokerage firms as well as banks — that stops short of promising to make a victimized customer whole.
... my bank has this policy posted on its Web site: “We guarantee that you will be covered for 100 percent of funds removed from your Wells Fargo accounts in the unlikely event that someone you haven’t authorized removes those funds through our Online Services.”
“Zero liability is now an industry standard,” said Doug Johnson, vice president for risk management at the American Bankers Association. Restitution is full, and customers do not even have the $50 of exposure that credit card holders risk from unauthorized use of their cards.
"It's tough to make predictions, especially when it involves the future." ~Attributed to many
"In theory, there is no difference between theory and practice. But, in practice, there is." ~(perhaps by) Yogi Berra
"Those who have knowledge, don't predict. Those who predict, don't have knowledge."~ Lau tzu