Regulatory Terms

    FCBA (Fair Credit Billing Act): Definition

    A law protecting consumers from unfair credit billing practices.

    Definition

    The Fair Credit Billing Act (FCBA) protects consumers from unfair billing practices for open-end credit accounts like credit cards. It establishes procedures for resolving billing disputes and limits consumer liability for unauthorized charges. Under FCBA, consumers can dispute charges within 60 days.

    Usage Notes

    • Applies to open-end credit (credit cards, etc.)
    • Consumers have 60 days to dispute billing errors
    • Creditors must acknowledge disputes within 30 days

    Related Terms

    FCRA (Fair Credit Reporting Act)Compliance Condition Code

    More Regulatory Terms

    FCRA (Fair Credit Reporting Act)
    The federal law governing consumer credit reporting.
    ECOA (Equal Credit Opportunity Act)
    A law prohibiting discrimination in credit decisions.
    Regulation V
    The CFPB regulation implementing FCRA requirements.

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