What are the federal laws governing credit cards?

The federal laws governing credit cards are intended to protect consumers from unfair or deceptive practices when it comes to the use of credit cards. The federal laws that regulate credit cards are the Fair Credit Billing Act, the Electronic Fund Transfer Act, the Truth in Lending Act, and the CARD Act. The Fair Credit Billing Act protects consumers against inaccurate billing practices. This law requires creditors to correct billing errors and prohibits creditors from charging a higher rate of interest or late fees from an incorrect billing statement. This law also requires creditors to review billing discrepancies that have been reported and investigate any claim of fraud. The Electronic Fund Transfer Act protects consumers from unauthorized transactions and provides consumers with a refund for any fraudulent charges that have been made. This law provides consumers with the right to dispute charges on their credit card statements and receive a full refund or credit for the disputed amount. The Truth in Lending Act requires creditors to provide consumers with accurate information about their credit terms before agreeing to them. This law also requires creditors to disclose additional fees, such as annual fees or transactions fees, if applicable. Finally, the CARD Act regulates credit card companies to protect consumers from unfair or deceptive practices, such as increasing interest rates without proper notice. This law also requires a minimum of 45 days notice before any changes are made to the terms of the agreement. In North Carolina, the Credit Card Dispute Resolution Law provides consumers with the right to challenge erroneous or fraudulent charges on their credit card statements. This law requires the credit card issuer to provide consumers with a fair and reasonable resolution of disputed charges. If an agreement cannot be reached, then the consumer may file a complaint with the North Carolina Attorney General’s Office.

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What are the federal laws governing credit cards?

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