Fair Credit Billing Act Law and Legal Definition
The Fair Credit Billing Act is a federal law which facilitates the correction of billing errors by credit-card companies and makes those companies more responsible for the quality of goods purchased by cardholders. The law applies to "open end" credit accounts, such as credit cards, and revolving charge accounts - such as department store accounts.
The Fair Credit Billing Act applies only to disputes about billing errors such as unauthorized charges, charges that list the wrong date or amount, charges for goods and services that were not accepted or were not delivered as agreed, math errors, failure to post payments and other credits, failure to send bills to the current address, and charges for which an explanation or written proof of purchase along with a claimed error or request for clarification was asked.
