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http://store.steampowered.com/steam_refunds/?l=english
Unfortunately that doesn't show what happens when the purchases were made illegally by a minor child. There are laws restricting purchases by minors who do not have signing authority over a card. The circumstances don't fit under the regular rules of refunding.
https://help.steampowered.com/en/
But according to valve: All purchases are final – you will not have any right to a refund or a reversal of any Community Market transaction once it is completed.
I'm sure they won't refund anything back if your son bought items on community market. Just ask them, maybe i'm wrong.
a) how did you not notice these charges until now?
b) how did your bank not notice these charges?
c) don't you monitor your son's internet usage and activity?
Since this is your son and your card was not stolen by some stranger, you will have a difficult time, to say the least in getting these funds returned to you. They will claim that you failed to safeguard your account information and it could have been prevented.
Good luck OP
For the record, this was his mother's card who he does not live with. He lives with me and I just found out about it last Friday. Due to the fact that I had custody I am still responsible for his actions even though I didn't have access to any of the information.
There are also several lawsuits of iTunes and others that stated minor children are not responsible for their actions due to the fact that they don't have signing authority on an adults card. Those companies have more easily accessible customer service and I have already received several refunds. Steam does not have a customer service hotline so I thought I would use the message board to try to contact someone as I have already disputed the charges through the previous payments section and called the number and left messages.
https://help.steampowered.com/en/wizard/HelpWithUnknownCharges
https://www.ftc.gov/tips-advice/business-center/guidance/complying-coppa-frequently-asked-questions
https://www.ftc.gov/news-events/press-releases/2014/01/apple-inc-will-provide-full-consumer-refunds-least-325-million
http://www.consumerreports.org/cro/news/2014/07/are-you-responsible-for-purchases-your-kids-make-without-your-permission/index.htm
1 C. Your Account
When you complete Steam’s registration process, you create a Steam account ("Account"). Your Account may also include billing information you provide to Valve for the purchase of Subscriptions, Content and Services and any physical merchandise offered for purchase through Steam (“Hardware”). You may not reveal, share or otherwise allow others to use your password or Account except as otherwise specifically authorized by Valve. You are responsible for the confidentiality of your login and password and for the security of your computer system. Valve is not responsible for the use of your password and Account or for all of the communication and activity on Steam that results from use of your login name and password by you, by any person to whom you may have intentionally or by negligence disclosed your login and/or password in violation of this confidentiality provision. Unless it results from Valve’s negligence or fault, Valve is not responsible for the use of your Account by a person who fraudulently used your login and password without your permission. If you believe that the confidentiality of your login and/or password may have been compromised, you must notify Valve via the support form (https://support.steampowered.com/newticket.php) without any delay.
Your Account, including any information pertaining to it (e.g.: contact information, billing information, Account history and Subscriptions, etc.), is strictly personal. You may therefore not sell or charge others for the right to use your Account, or otherwise transfer your Account, nor may you sell, charge others for the right to use, or transfer any Subscriptions other than if and as expressly permitted by this Agreement (including any Subscription Terms or Rules of Use) or as otherwise specifically permitted by Valve.
3 B. Responsibility for Charges Associated With Your Account
As the Account holder, you are responsible for all charges incurred, including applicable taxes, and all purchases made by you or anyone that uses your Account, including your family or friends. If you cancel your Account, Valve reserves the right to collect fees, surcharges or costs incurred before cancellation. Any delinquent or unpaid Accounts must be settled before Valve will allow you to register again.
http://store.steampowered.com/subscriber_agreement/
this is what family view is for.
https://support.steampowered.com/kb_article.php?ref=5149-EOPC-9918
Steam is not above the law. Quit misleading this person. They can write whatever they want in their user agreement, as long as it doesn't go against the laws. If other companies have to be held accountable for these rules, then why doesn't Valve? Are you trying to tell us that they are above the law?
After reading the Apple case, it also can not be cited as Valve has a service to protect users against their children making purchases without consent.