Credit and Debit Card Disputes

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The following information is summarized from the websites of the Connecticut State Department of Banking: www.ct.gov/dob/ and the Federal Trade Commission (Fact Sheets on “Credit, ATM and Debit Cards”: (www.ftc.gov/bcp/edu/pubs/consumer/credit/cre04.shtm) and “Electronic Banking”: http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre14.shtm

The Fair Credit Billing Act (FCBA) and the Electronic Fund Transfer Act (EFTA) offer procedures for individuals and businesses to use if their cards are lost or stolen.

WHAT IS THE FAIR CREDIT BILLING ACT?
The Fair Credit Billing Act (FCBA) helps consumers resolve disputes with creditors over errors which appear on bills for their “open end” credit arrangements which include credit cards, revolving charge accounts (such as department store accounts) and overdraft checking.

WHAT IS THE ELECTRONIC FUND TRANSFER ACT?
The Electronic Fund Transfer Act provides consumer protection for all transactions using a debit card or electronic means to debit or credit an account. It also limits a consumer’s liability for unauthorized electronic fund transfers.

WHAT ARE THE TYPE OF BILLING ERRORS THAT CAN OCCUR?
The term “billing errors” includes:

WHAT SHOULD I DO IF MY CARD IS LOST OR STOLEN?

Note: If your credit card is lost or stolen, contact your financial institution as soon as possible to report the loss or theft and to learn about your liabilities.

TO FIND PROVIDERS IN CONNECTICUT’S COMMUNITY RESOURCES DATABASE:
Search by agency name:
Federal Trade Commission

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SOURCES: 2-1-1 Database; State of Connecticut Department of Banking website; Federal Trade Commission website
INTERNET PAGE PREPARED BY: 211/pt
CONTENT LAST REVIEWED: September2016