Fair Credit Billing Act

(redirected from Fair Credit Billing Act of 1974)

Fair Credit Billing Act

Also called the FCBA. Legislation in the United States, passed in 1974, that allowed credit card customers to dispute (in writing sent by mail) a charge made on their cards. For example, if an unauthorized person makes a charge on a card or if the credit card company bills an incorrect amount, the FCBA allows the customer to ask the charge to be removed or changed. The card holder is usually not liable for erroneous or fraudulent charges. The FCBA was an amendment to the Truth in Lending Act.