Fair Credit Billing Act (FCBA)

Understand your rights under federal law to dispute billing errors and remove unfair late payments

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What is the Fair Credit Billing Act?

The Fair Credit Billing Act (FCBA) is a federal consumer protection law that provides a mechanism for consumers to dispute billing errors on their credit card accounts and protect their credit scores from unfair late payments.

CFPB Official Interpretation

"The FCBA provides a specific process for resolving billing errors on credit card accounts and other 'open end' credit accounts. This process gives consumers important rights and imposes strict deadlines on creditors."

Source: CFPB Supervision and Examination Manual, Section 1026.13

Protected Billing Errors

Unauthorized charges
Charges with wrong amounts
Mathematical or accounting errors
Failure to credit payments or returns
Failure to send statements to correct address

Reference: 15 U.S.C. § 1666(b)

Late Payment Protections

60-day dispute window
Creditor must acknowledge within 30 days
Resolution required within 90 days
No negative credit reporting during investigation

Reference: Regulation Z, 12 CFR § 1026.13(c)

Dispute Resolution Process

Step 1: Written Notice Required

Send written notice to creditor's designated address within 60 days of the first bill containing the error.

CFPB Guidance: Notice must be received at "designated address" - 12 CFR § 1026.13(b)

Step 2: Creditor's Investigation

Creditor must complete investigation and either correct error or explain why they believe bill is correct.

CFPB Interpretation: Commentary to 12 CFR § 1026.13(c)(2)

Step 3: Removal of Late Payments

If billing error is confirmed, related late payments must be removed from credit reports.

FCBA Section 161(b), 15 U.S.C. § 1666(b)

CFPB Enforcement Actions

The Consumer Financial Protection Bureau actively enforces the FCBA and has issued numerous enforcement actions against creditors for:

Failing to properly investigate disputes
Not removing unauthorized charges
Improper late fee assessment
Failure to follow proper dispute procedures

Source: CFPB Supervisory Highlights, Consumer Credit Card Market Report

Empowering Consumers with Credlocity's Credit Repair Services

Credlocity, under the leadership of CEO Joeziel Joey Vazquez, is committed to championing consumer rights within the fintech industry. As a rapidly growing credit repair company, our goal is to become the leading resource for consumers in all credit, financial, fintech, and credtech fields.

With a deep understanding of the Fair Credit Billing Act and the Fair Credit Reporting Act (FCRA), Credlocity offers tailored credit repair services that comply with the provisions of these laws. Whether you are grappling with late payments, seeking credit restoration, or require credit repair services in Philadelphia or beyond, Credlocity is here to guide you.

Contact us today to leverage our expertise and secure the credit repair services you need, all while prioritizing your consumer rights and helping you achieve your financial goals.