By: Robert J. Nahoum The Electronic Funds Transfer Act (EFTA), 15 U.S.C. §1693 et seq., governs electronic transfers from consumer bank accounts, including debit‑card, ATM, online banking, and app‑based transfers. The Fair Credit Billing Act (FCBA), 15 U.S.C. §1666, governs “open‑end” credit accounts, such as credit cards, and provides a dispute process for billing errors and unauthorized charges. What the EFTA Covers […]
Electronic Funds Transfer Act vs. Fair Credit Billing Act: Key Differences, Damages and Consumer Rights
What Qualifies as a Billing Error under the Fair Credit Biling Act (FCBA)
By: Robert J. Nahoum A billing error under the Fair Credit Billing Act (FCBA) occurs when a credit card statement contains mistakes such as unauthorized charges, incorrect amounts, charges for goods or services not received, or computational errors. FCBA lawsuits allow consumers to dispute these errors efficiently, and aggrieved consumers may recover financial damages and, in some cases, attorneys’ fees. […]
Common Examples of Unauthorized Credit Card Transactions and Bank Liability Under the Fair Credit Billing Act
By: Robert J. Nahoum The Fair Credit Billing Act (FCBA) is a vital federal consumer protection law that shields consumers from unfair credit card billing practices, including unauthorized transactions. If you find unfamiliar charges on your credit card statement, the FCBA provides important protections and a procedure to dispute those charges, potentially resulting in bank liability for the disputed amounts. […]