How does the Fair Credit Billing Act protect credit card consumers?

The Fair Credit Billing Act (FCBA) is a federal law that protects credit card consumers in Washington and across the United States. It sets out certain rights for consumers who have a dispute with their credit card issuer, including the right to dispute a bill, stop payments, and, in many cases, have their disputed charges removed from their accounts. Under the FCBA, credit card consumers in Washington can dispute any charges on their charge cards for any reason, such as if the goods or services weren’t what was promised, or if the bill was inaccurate. Once the dispute is filed, the credit card issuer must investigate the dispute and provide the consumer with a written explanation of its findings within two billing cycles. If the credit card issuer fails to investigate and resolve the dispute within two billing cycles, the consumer can withhold payment on the disputed amount while they wait for a resolution. It’s important to note that the FCBA does not give consumers the right to withhold payment indefinitely; rather, it gives them the right to withhold payment until the dispute is resolved. Another benefit of the FCBA is that consumers are not required to pay any interest or late fees on the disputed amount while their dispute is pending. This benefit protects consumers from financial hardship while they work to resolve their issues with their credit card issuer. Overall, the FCBA helps protect credit card consumers in Washington by providing them with certain rights and protection from financial hardship while they resolve disputes with their credit card issuers.

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How does the Fair Credit Billing Act protect credit card consumers?

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