What is the Fair Credit Billing Act?

The Fair Credit Billing Act is a federal law that was enacted in 1974 in order to protect consumers in Tennessee and across the United States. The Act provides protection for consumers when it comes to billing errors and unauthorized charges on their credit cards and other accounts. It also covers a variety of other topics related to banking law such as dispute resolution procedures, debt collection processes, and payment due dates. The Fair Credit Billing Act requires creditors to provide ample notice before taking any legal action against a customer. This includes written notification if there is an error on the bill and an explanation of how the customer can dispute the charges. Customers also have the right to dispute charges within 60 days of when they first notice it on their statement. If the creditor is unable to prove the charges are accurate, then the consumer is not responsible for paying the disputed amount. Additionally, the Fair Credit Billing Act provides protection for consumers when it comes to unauthorized charges. This means that if a customer notices a charge on their statement that they did not authorize, they are allowed to dispute it and have it removed. The customer will also not be responsible for paying the unauthorized charge. Overall, the Fair Credit Billing Act is a federal law that protects consumers in Tennessee and across the United States when it comes to billing errors and unauthorized charges. This law provides important protection for customers and helps ensure that their rights are respected.

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What is the Fair Credit Billing Act?

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