I work for a big bank and would like to comment and offer advice.
Federal Regulation E is what protects you as a consumer from being defrauded electronically. It covers transactions presented to checking accounts via ACH (routing and acount number) and through Check or Debit cards. It also covers credit card transactions.
It is your responsibility as a customer to report any unrecognized/unathorized activity within 60 days, otherwise your bank/CC company does not have to file a dispute, and most will not.
It limits your liability to a maximum of $50.00, many banks/CC companies will further increase that and offer a $0.00 liability and eat the $50.00 if needed. I know that is the policy at my bank.
Striperman, you are indeed covered when using a debit card, if your bank says different.......move your accounts. Just rememer that the 60 day limit for claims is universal. ALWAYS CHECK YOUR STATEMENT!!
As far as ID theft the Federal Trade Commission has jurisdiction over it. Here is the web address,
http://idtheft.gov/
Most companies also offer some kind of protection and may also give it to you free if you have been affected.
Security/Privacy breaches almost exclusively take place at a third party like a store, TJ Maxx anyone??
Companies would love to shut all these folks down, disputes cost money after all.
If anyone has any questions, PM me, I can't say what bank I work for or anything but if I can help in any way, I would be more than happy to do that.