You have 60 days from when Bank of America sends your account statement to report any unauthorized or fraudulent transactions — if you miss this deadline, you may be personally responsible for those losses.
This provision creates a hard financial deadline that can cost customers real money — if you fail to review your statement and report fraud within 60 days of it being sent, you may be held fully liable for unauthorized transactions that occurred on your account.
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Compare across platforms →Missing the 60-day reporting window can mean Bank of America has no legal obligation to reimburse you for fraudulent charges, even if you were the victim of identity theft or a scam, leaving you personally liable for potentially significant financial losses.
REGULATORY FRAMEWORK: This provision directly implicates Regulation E (12 CFR Part 1005), specifically §1005.6 (liability of consumer for unauthorized transfers) and §1005.11 (procedures for resolving errors), enforced by the CFPB. Regulation E establishes maximum consumer liability thresholds based on reporting timing, and bank-imposed deadlines that are more restrictive than Regulation E must be assessed for compliance. The provision also engages the Electronic Fund Transfer Act (15 U.S.C. §1693 et seq.).
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