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Fair Credit Billing Act
The Fair Credit Billing Act (FCBA) is a United States federal law passed during the 93rd United States Congress and enacted on October 28, 1974 as an amendment to the Truth in Lending Act (codified at et seq.) and as the third title of the same bill signed into law by President Gerald Ford that also enacted the Equal Credit Opportunity Act. Its purpose is to protect consumers from unfair billing practices and to provide a mechanism for addressing billing errors in "open end" credit accounts, such as credit card or charge card accounts. Examples of billing errors The following are examples of billing errors under the FCBA: * Charges not actually made by the consumer * Charges in the wrong amount. * Charges for goods or services not received by the consumer * Charges for goods not delivered as agreed * Charges for goods that were damaged on delivery * Failures to properly reflect payments or credits to an account * Calculation errors * Charges that the consumer wants clarified or r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 contiguous states border Canada to the north and Mexico to the south, with the semi-exclave of Alaska in the northwest and the archipelago of Hawaii in the Pacific Ocean. The United States asserts sovereignty over five Territories of the United States, major island territories and United States Minor Outlying Islands, various uninhabited islands in Oceania and the Caribbean. It is a megadiverse country, with the world's List of countries and dependencies by area, third-largest land area and List of countries and dependencies by population, third-largest population, exceeding 340 million. Its three Metropolitan statistical areas by population, largest metropolitan areas are New York metropolitan area, New York, Greater Los Angeles, Los Angel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Trade Commission
The Federal Trade Commission (FTC) is an independent agency of the United States government whose principal mission is the enforcement of civil (non-criminal) United States antitrust law, antitrust law and the promotion of consumer protection. It shares jurisdiction over federal civil antitrust law enforcement with the United States Department of Justice Antitrust Division, Department of Justice Antitrust Division. The agency is headquartered in the Federal Trade Commission Building in Washington, DC. The FTC was established in 1914 by the Federal Trade Commission Act of 1914, Federal Trade Commission Act, which was passed in response to the 19th-century monopolistic trust crisis. Since its inception, the FTC has enforced the provisions of the Clayton Antitrust Act of 1914, Clayton Act, a key U.S. antitrust statute, as well as the provisions of the FTC Act, et seq. Over time, the FTC has been delegated with the enforcement of additional business regulation statutes and has promul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit
Credit (from Latin verb ''credit'', meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt), but promises either to repay or return those resources (or other materials of equal value) at a later date. The resources provided by the first party can be either property, fulfillment of promises, or performances. In other words, credit is a method of making reciprocity formal, legally enforceable, and extensible to a large group of unrelated people. The resources provided may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower. Etymology The term "credit" was first used in English in the 1520s. The term came "from Middle French crédit (1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Federal Banking Legislation
In the United States, banking had begun by the 1780s, along with the country's founding. It has developed into a highly influential and complex system of banking and financial services. Anchored by New York City and Wall Street, it is centered on various financial services, such as private banking, asset management, and deposit security. The beginnings of the banking industry can be traced to 1780 when the Bank of Pennsylvania was founded to fund the American Revolutionary War. After merchants in the Thirteen Colonies needed a currency as a medium of exchange, the Bank of North America was opened to facilitate more advanced financial transactions. As of 2018, the largest banks in the United States were JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, and Goldman Sachs. As of March 2024, there were 4,587 FDIC insured commercial banks and savings institutions in the U.S. History Merchants traveled from Britain to the United States and established the Bank of Pennsylva ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Statutes At Large
The ''United States Statutes at Large'', commonly referred to as the ''Statutes at Large'' and abbreviated Stat., are an official record of Acts of Congress and concurrent resolutions passed by the United States Congress. Each act and resolution of Congress is originally published as a slip law, which is classified as either public law (abbreviated Pub.L.) or private law (Pvt.L.), and designated and numbered accordingly. At the end of a congressional session, the statutes enacted during that session are compiled into bound books, known as "session law" publications. The ''United States Statutes at Large'' is the name of the session law publication for U.S. Federal statutes. The public laws and private laws are numbered and organized in chronological order. U.S. Federal statutes are published in a three-part process, consisting of slip laws, session laws (''Statutes at Large''), and codification (''United States Code''). Codification Large portions of public laws are enac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Government Publishing Office
The United States Government Publishing Office (USGPO or GPO), formerly the United States Government Printing Office, is an agency of the legislative branch of the United States federal government. The office produces and distributes information products and services for all three branches of the Federal Government, including U.S. passports for the Department of State as well as the official publications of the Supreme Court, the Congress, the Executive Office of the President, executive departments, and independent agencies. An act of Congress changed the office's name to its current form in 2014. History Establishment of the Government Printing Office The Government Printing Office was created by congressional joint resolution () on June 23, 1860. It began operations March 4, 1861, with 350 employees and reached a peak employment of 8,500 in 1972. The agency began transformation to computer technology in the 1980s; along with the gradual replacement of paper with el ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fair And Accurate Credit Transactions Act
The Fair and Accurate Credit Transactions Act of 2003 (FACT Act or FACTA, ) is a U.S. federal law, passed by the United States Congress on November 22, 2003, and signed by President George W. Bush on December 4, 2003, as an amendment to the Fair Credit Reporting Act. The act allows consumers to request and obtain a free credit report once every 12 months from each of the three nationwide consumer credit reporting companies (Equifax, Experian, and TransUnion). In cooperation with the Federal Trade Commission, the three major credit reporting agencies set up the web site AnnualCreditReport.com to provide free access to annual credit reports. The act also contains provisions to help reduce identity theft, such as the ability for individuals to place alerts on their credit histories if identity theft is suspected, or if deploying overseas in the military, thereby making fraudulent applications for credit more difficult. Further, it requires secure disposal of consumer informati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fair Debt Collection Practices Act
The Fair Debt Collection Practices Act (FDCPA), Pub. L. 95-109; 91 Stat. 874, codified as –1692p, approved on September 20, 1977 (and as subsequently amended), is a consumer protection amendment, establishing legal protection from abusive debt collection practices, to the Consumer Credit Protection Act, as Title VIII of that Act. The statute's stated purposes are: to eliminate abusive practices in the collection of consumer debts, to promote fair debt collection, and to provide consumers with an avenue for disputing and obtaining validation of debt information in order to ensure the information's accuracy. The Act creates guidelines under which debt collectors may conduct business, defines rights of consumers involved with debt collectors, and prescribes penalties and remedies for violations of the Act. It is sometimes used in conjunction with the Fair Credit Reporting Act. People and entities covered by the FDCPA The FDCPA broadly defines a debt collector as "any person ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fair Credit Reporting Act
The Fair Credit Reporting Act (FCRA), 15 U.S.C. § 1681 ''et seq.'', is federal legislation enacted to promote the accuracy, fairness, and privacy of consumer information contained in the files of consumer reporting agencies. It was intended to shield consumers from the willful or negligent inclusion of erroneous data in their credit reports. To that end, the FCRA regulates the collection, dissemination, and use of consumer information, including consumer credit information. It was originally passed in 1970, and is enforced by the U.S. Federal Trade Commission, the Consumer Financial Protection Bureau, and private litigants. History Before standardization of credit scoring, statements of character were integral to credit reports well into the 1960s. With credit reports containing probing details about personality, habits, and health, in the hearings on the Fair Credit Reporting Act lawmakers were troubled that individuals were helpless to clear up errors. The Fair Credit Re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Class Action Suit
A class action A class action is a form of lawsuit. Class Action may also refer to: * ''Class Action'' (film), 1991, starring Gene Hackman and Mary Elizabeth Mastrantonio * Class Action (band), a garage house band * "Class Action" (''Teenage Robot''), a 2002 e ... is a form of lawsuit. Class Action may also refer to: * ''Class Action'' (film), 1991, starring Gene Hackman and Mary Elizabeth Mastrantonio * Class Action (band), a garage house band * "Class Action" (''Teenage Robot''), a 2002 episode of ''My Life as a Teenage Robot'' *''Class Action'', a play by Brad Slaight *''Class Action'', a 2002 book that was the basis for the film '' North Country'' *''Cla$$ Action'', a 2005 novel by Henry Denker {{Disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statutory Damages
Statutory damages are a damage award in civil law, in which the amount awarded is stipulated within the statute rather than being calculated based on the degree of harm to the plaintiff. Lawmakers will provide for statutory damages for acts in which it is difficult to determine a precise value of the loss suffered by the victim. This could be because calculation of a value is impractical, such as in intellectual property cases where the volume of the infringement cannot be ascertained. It could also be because the nature of the injury is subjective, such as in cases of a violation of a person's rights. The award might serve not only as compensation but also for deterrence, and it is more likely to succeed in serving a deterrence function when the potential defendants are relatively sophisticated parties. Other functions that can be served by statutory damages include reducing administrative costs and clarifying the consequences of violating the law. The amount of statutory dam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jurisdiction
Jurisdiction (from Latin 'law' and 'speech' or 'declaration') is the legal term for the legal authority granted to a legal entity to enact justice. In federations like the United States, the concept of jurisdiction applies at multiple levels (e.g., local, state, and federal). Jurisdiction draws its substance from international law, conflict of laws, constitutional law, and the powers of the executive and legislative branches of government to allocate resources to best serve the needs of society. International dimension Generally, international laws and treaties provide agreements which nations agree to be bound to. Such agreements are not always established or maintained. Extraterritorial jurisdiction is exercised through three principles outlined in the UN charter. These are equality of states, territorial sovereignty and non-intervention. This raises questions of when can many states prescribe or enforce jurisdiction. The ''Lotus'' case establishes two key rules t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
