What is a Fair Credit Billing Act?

The Fair Credit Billing Act (FCBA) is a federal law that protects consumers in the state of Georgia when it comes to their credit card purchases. It requires that credit card companies follow certain rules when issuing billing statements and handling disputes over card charges. The FCBA also requires that credit card companies provide clear information on billing statements about billing rights and dispute resolution procedures. Under the FCBA, consumers in Georgia have the right to dispute charges on their credit card statement that are inaccurate, incomplete, or not authorized. Upon receiving notice of a dispute, credit card companies must investigate the claim and correct any errors. They are also required to provide written notification of the results of the investigation to the consumer, and must correct any inaccurate or unauthorized charges. The FCBA also gives consumers certain protections when it comes to interest rates and other fees. For example, if the credit card company increases a consumer’s interest rate, they must give the consumer advance notice of the increase and provide an explanation of the reason for the increase. In summary, the Fair Credit Billing Act is a federal law that helps protect consumers in Georgia by requiring that credit card companies follow certain rules when issuing billing statements and handling disputes over card charges. It also sets certain protections regarding interests rates and other fees.

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What is a Fair Credit Billing Act?

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