What law protects consumers from unfair billing practices?

What law protects consumers from unfair billing practices?

• A. Fair Credit Billing Act
• B. Truth in Lending Act
• C. Unfair Trade Practices Law
• D. Credit Repair Organizations Act

Answer: (A)

The Fair Credit Billing Act is the legislation that specifically addresses consumer protections against unfair billing practices. This law allows consumers to dispute inaccurate billing statements and provides guidelines for how credit card companies and other creditors must respond to these disputes. It aims to ensure that consumers are not charged for unauthorized transactions and that they receive prompt, proper responses to their billing inquiries. The other laws mentioned do play important roles in consumer protection, but they don't specifically focus on unfair billing practices. The Truth in Lending Act primarily aims to promote informed use of credit by requiring disclosures about terms and costs. The Unfair Trade Practices Law generally addresses broader issues of unfair competition and deceptive business practices but does not specifically target billing. Lastly, the Credit Repair Organizations Act is intended to protect consumers from deceptive practices in the credit repair industry, rather than focusing directly on billing issues.

The Fair Credit Billing Act is the legislation that specifically addresses consumer protections against unfair billing practices. This law allows consumers to dispute inaccurate billing statements and provides guidelines for how credit card companies and other creditors must respond to these disputes. It aims to ensure that consumers are not charged for unauthorized transactions and that they receive prompt, proper responses to their billing inquiries.

The other laws mentioned do play important roles in consumer protection, but they don't specifically focus on unfair billing practices. The Truth in Lending Act primarily aims to promote informed use of credit by requiring disclosures about terms and costs. The Unfair Trade Practices Law generally addresses broader issues of unfair competition and deceptive business practices but does not specifically target billing. Lastly, the Credit Repair Organizations Act is intended to protect consumers from deceptive practices in the credit repair industry, rather than focusing directly on billing issues.