Yes, though the rules change. After 60 days, you may be liable for additional charges, but your liability is not unlimited. Banks love to imply that you’re responsible for everything if you didn't report within 60 days — that’s simply not true.

Michael F. Cardoza, Esq.
Michael F. Cardoza, Esq.
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U.S. Marine & Consumer Financial Protection Attorney helping victims of ID theft and Credit Reporting errors.