What is the Fair Credit Billing Act?

The Fair Credit Billing Act is a federal law that helps to protect consumers in North Carolina and across the U.S. who use credit cards and other forms of electronic payment. This law, which was established in 1974, helps consumers to dispute inaccurate or unauthorized charges on their credit cards or other forms of electronic payment, and requires creditors to provide accurate information regarding billing. The Fair Credit Billing Act requires creditors to promptly investigate any disputed items and provide the customer with written explanation of the results of the investigation. It also requires creditors to correct billing mistakes upon receipt of proper notice, and provides for the re-crediting of any sums paid by the customer as a result of the billing mistake. Additionally, the Act allows consumers to contest the accuracy of items appearing on their statement of account, and requires creditors to inform consumers of their right to file complaints and provide information as to how to contact the relevant regulatory body. In North Carolina, the state Attorney General’s office enforces the Fair Credit Billing Act. The office investigates complaints related to credit card billing and works to ensure consumers receive full and fair restitution from the creditors for any errors in billing. The North Carolina Attorney General’s office also provides resources to help consumers learn more about their rights under the Fair Credit Billing Act.

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What is the Fair Credit Billing Act?

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