Fair Credit Billing Act - FCBA

Fair weather. Fair Isaac. Fair is wheel.

So...what's another Fair?

A U.S. federal law, put into effect in 1974, meant to provide protections against unfair billing practices, particularly by credit card companies. It includes rules against charging for items not received, or making mathematical errors in computing the bill.

(Which might not seem like landmark stuff, but regular people didn't start using credit cards regularly until fairly recently. Thus Congress not getting around to this law until the mid-1970s.)

The law also provides some other regulations related to credit card billing, such as a stipulation that bills must be sent at least 14 days before payment is due. The Federal Trade Commission was put in charge of enforcing the provisions of the act.