Debit card scam hits Michael's stores

If you used your debit card at a Michael's store, call your bank. Now!

Card readers in stores in 20 states, including 14 stores in Illinois, were compromised, resulting in thefts from checking accounts, often in a $503 amount.

This is similar to the scheme that affect Aldi a short time back.

According to an article in the Chicago Tribune, "Federal law says debit-card users have only a limited time to report a loss or unauthorized use. Even if reported within two days, a customer can be liable for up to $50 of the fraud amount. If reported between two and 60 days, the customer can be liable for up to $500. If reported later, a customer is in danger of losing all the money. Further, a bank can take up to 10 business days -- essentially two weeks -- to put back into the account any stolen money, according to the Identity Theft Resource Center.

"However, banks can decide to be more generous than the federal law limits."