What does the law say about credit card disputes?

Credit card dispute resolution law in North Carolina exists to ensure that credit card holders are not unfairly charged for goods and services. The law states that any discrepancies that may occur between the credit card holder and the vendor must be resolved in an efficient and fair manner. Disputes must be initiated within 60 days of the statement date and the vendor must acknowledge the dispute within 30 days of the receipt of the notice of the dispute. The law also states that all documents and records related to the dispute must be provided to the credit card holder within 30 days from the date of acknowledgement. Once the documents have been provided, the credit card holder and the merchant must work together to resolve the dispute. The law states that the credit card holder and the merchant must try to resolve the dispute within 45 days of the document exchange, and the card holder must be issued a refund after 45 days if the dispute is not resolved. It also states that the credit card holder is not responsible for any charges during the dispute resolution process. The law also protects the rights of the credit card holder by prohibiting the merchant from using coercion or intimidation to obtain payment. It also establishes penalties for any violations of the law, including fines and even criminal prosecution. In summary, the law provides clear and specific guidelines for how credit card disputes should be handled and ensures that card holders are protected from any unfair or coercive practices.

What does the law say about credit card disputes?

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