FCBA Fair Credit Billing Act
Fair Credit Billing Act (FCBA) (effective 1975) applies only to open-end credit transactions. Among other things, the act specifies a step-bystep procedure for error resolutions. The procedure is as follows:
 
        ·The consumer must give written notice of a billing error, in a letter, within 60 days of receiving the bill in question.

        ·The creditor must respond within 30 days and resolve the dispute within two billing cycles, but not longer than 90 days.
        Within 90 days, the creditor must either explain why the bill is correct or correct the error.

        ·
During the resolution period no collection activity is permitted on the disputed amount and no finance charges may be
       collected as well. The account may not be reported as delinquent, nor can it be closed nor restricted because of the  
       consumer's failure to pay the disputed amount, and/or related charges.

        ·
If the consumer still believes the billing to be in dispute after the resolution period, the consumer must again notify the creditor
        in writing. During this period, the creditor may not report the account delinquent without also reporting that the amount is in
        dispute. The creditor must also report to the consumer the name and address of each person to whom the creditor is
        reporting information about the delinquency.

        ·
The creditor must also report how the matter was resolved, to anyone who received a report on the delinquency.

        ·
Creditors must include an address on periodic statements to which consumer billing inquiries can be addressed.