Current through Register Vol. 49, No. 13, September 23, 2024
Subpart
1.
Disclosure information.
Pursuant to Minnesota Statutes, section
47.69, the
following information shall be disclosed in writing or by electronic
communications agreed to by the customer and by the card issuer to its customer
at the time the card is issued or in the event cards meeting the requirements
of the act and parts
2675.8100 to
2675.8190 are outstanding (this
disclosure shall be made before the customer is allowed to use a
terminal):
A. the types of financial
transactions available through the use of the terminal;
B. the schedule of charges made by the
financial institution for the customer's use of the terminal;
C. any restrictions or limits on the number
of transactions or dollar value limits that may be imposed upon the customer by
the card issuer;
D. the frequency
for sending periodic transaction statements to the customer;
E. the procedure to be used to give notice of
error to the card issuer (said disclosure shall include the manner in which
notice of error is to be filed and with whom it is to be filed, and shall
include the mailing address and telephone number of the person to whom notice
may be given);
F. the specific
manner in which the agreement under which a card was issued may be terminated,
either by the card issuer or by the customer;
G. the customary time needed to complete
terminal transactions with the financial institution clearly stating
differential in time if any between the various permitted transactions
initiated at a terminal;
H. where
payment for goods or services is made by a transfer of funds through a
terminal: whether the transaction may be reversed by the customer, the
procedure by which the transaction may be reversed, and a statement that the
payment for goods or services made in this manner shall not affect any of the
rights, protections, or liabilities in existing law concerning a cash or credit
sale made by means other than through the use of a terminal;
I. a statement that the financial institution
shall be liable for all unauthorized withdrawals unless the unauthorized
withdrawal was due to the loss or theft of the customer machine readable card,
in which case the customer shall be liable, subject to a maximum liability of
$50, for those unauthorized withdrawals made prior to the time the financial
institution is notified of the loss or theft. The limitation on liability is
effective only if the card issuer is notified of unauthorized charges contained
in a bill within 60 days of receipt of the bill by the person in whose name the
card is issued;
J. a statement that
any customer may bring a civil action against any person violating the consumer
privacy and unauthorized withdrawal provisions of the act and may recover, in
addition to actual damages, or $500, whichever is greater, punitive damages,
together with the court costs and reasonable attorney's fees incurred;
and
K. a statement that to protect
the privacy of customers using electronic financial terminals, including any
supporting equipment, structures or systems, information received by or
processed through such terminals, supporting equipment, structures or systems
shall be treated and used only in accordance with applicable law relating to
the dissemination and disclosure of such information. The person establishing
and maintaining an electronic financial terminal, including any supporting
equipment, structures or systems, shall take such steps as are reasonably
necessary to restrict disclosure of information to that necessary to complete
the transaction and to safeguard any information received or obtained about a
customer or a customer's account from misuse by any person manning an
electronic financial terminal, including any supporting equipment, structures,
or systems.
Subp. 2.
Type sizes.
All information required to be disclosed by subpart
1 shall be printed or
displayed in not less than eight-point type, .075 inch computer type, or elite
size typewritten characters.
Subp.
3.
Listing.
A directory listing as permitted under the act shall be made
available by the applicant at the location of the terminal identifying the
financial institutions using its services.
