---
kind: "section"
citation: "12 U.S.C. § 5010"
title: "12"
title_heading: "Banks and Banking"
number: "5010"
heading: "Statute of limitations and notice of claim"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/5010"
units:
  - "Chapter 50 — Check Truncation"
---

# §5010. Statute of limitations and notice of claim

- (a) **Actions under this chapter—**
  - (1) **In general—** An action to enforce a claim under this chapter may be brought in any United States district court, or in any other court of competent jurisdiction, before the end of the 1-year period beginning on the date the cause of action accrues.
  - (2) **Accrual—** A cause of action accrues as of the date the injured party first learns, or by which such [person](/usc/12/5002.md?p=14) reasonably should have learned, of the facts and circumstances giving rise to the cause of action.
- (b) **Discharge of claims—** Except as provided in [subsection (c)](#c), unless a [person](/usc/12/5002.md?p=14) gives notice of a claim to the indemnifying or warranting [bank](/usc/12/5002.md?p=2) within 30 days after the [person](/usc/12/5002.md?p=14) has reason to know of the claim and the identity of the indemnifying or warranting [bank](/usc/12/5002.md?p=2), the indemnifying or warranting [bank](/usc/12/5002.md?p=2) is discharged from liability in an action to enforce a claim under this chapter to the extent of any loss caused by the delay in giving notice of the claim.
- (c) **Notice of claim by consumer—** A timely claim by a [consumer](/usc/12/5002.md?p=7) under [section 5006 of this title](/usc/12/5006.md) for expedited recredit constitutes timely notice of a claim by the [consumer](/usc/12/5002.md?p=7) for purposes of [subsection (b)](#b).

## Source credit

(Pub. L. 108–100, § 11, Oct. 28, 2003, 117 Stat. 1188.)

## Notes

### Editorial Notes

### References in Text

This chapter, referred to in subsecs. (a)(1), (b), was in the original “this Act”, meaning Pub. L. 108–100, Oct. 28, 2003, 117 Stat. 1177, which is classified generally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 5001 of this title and Tables.

### Statutory Notes and Related Subsidiaries

### Effective Date

Section effective at the end of the 12-month period beginning on Oct. 28, 2003, see section 20 of Pub. L. 108–100, set out as a note under section 5001 of this title.