Fair Credit Billing Act

The Fair Credit Billing Act (FCBA) is part of the Truth in Lending laws in place in the United States. The purpose of the FCBA is to protect people from being hurt by their lenders, particularly with credit card accounts regarding billing errors.

Errors in billing can include charges that should not be there, or are of the wrong amount, statement errors, or charges for services not rendered.

This law is the very reason why consumer advocate Clark Howard advises people to use credit cards when buying online. When a purchase is disputed the credit card company will fight to get its money back whereas when the same thing is done with a debit card, the same rule does not apply to checking accounts.

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