What is credit card dispute resolution law?

Credit card dispute resolution law refers to state-level laws that provide protection to consumers who believe they have been wronged by a credit card issuer. This law establishes procedures and timelines for resolving disputes between customers and credit card companies. In California, credit card dispute resolution laws are based on the Fair Credit Billing Act (FCBA). Under the FCBA, consumers have the right to dispute a bill that they believe is incorrect. The FCBA requires the credit card company to investigate and respond to the dispute within two billing cycles. The credit card company must also provide the consumer with a written explanation of the results of the investigation. In California, consumers can also file a complaint with the California Department of Business Oversight (DBO). The DBO can take enforcement action against a credit card issuer that does not comply with the FCBA. In addition, California also has state-level consumer protection laws that apply to credit cards. Credit Card companies must adhere to the rules established in these laws. Credit card dispute resolution laws provide important consumer protections. Consumers must be aware of their rights and remedies under these laws in order to receive the full benefit of their consumer protection rights.

Related FAQs

How do I recover funds from a chargeback?
What is the Equal Credit Opportunity Act?
What are the federal laws governing credit reporting?
How can I find out what the legal limits are for a credit card dispute?
How do I dispute a credit card charge?
What are the most important steps to take when disputing a credit card charge?
What rights do I have under the Fair Credit Billing Act?
How can I dispute errors on my credit report?
What are the most common types of credit card fraud?
What should I do if I am threatened or intimidated by debt collectors?

What is credit card dispute resolution law?

Related FAQs

Related Blog Posts