Question

What is the purpose of the fair credit billing act and the electronic fund transfer act.

Answer 1

The fair credit billing act and the electronic fund transfer act provide consumers with legal protection from unfair billing practices.

What are unfair billing practices?

Unfair billing practices refer to:

• Unauthorized credit card charges
• Charges due to errors
• Undelivered goods or services.

The accounts affected y the fair credit billing act and the electronic fund transfer act are credit accounts, including:

• Credit cards accounts
• Charge accounts.

Thus, the fair credit billing act and the electronic fund transfer act provide consumers with legal protection from unfair billing practices.

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