Earlier quoted context omitted.
For those of us who don't have this setup, suppose this kind of breach does occur and money is taken from a checking account. Is this covered by the bank somehow? Can that money be returned?
Depends on the bank, but it's definitely not protected by law the way a credit card is, at least in the US. That goes for debit cards too by the way.
In every case Chase refunded me in full within a few days. This isn't something every bank does?