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The Coming Wave Of Credit Card “Billing Error” Disputes: Six Things To Know

Alert March 26, 2020

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  • The Coming Wave Of Credit Card “Billing Error” Disputes: Six Things To Know

The Coming Wave Of Credit Card “Billing Error” Disputes: Six Things To Know

March 26, 2020, Covington Alert

When consumers use their credit cards to purchase goods or services that they never receive, the Fair Credit Billing Act gives consumers the right to dispute the charge directly with their credit card issuer. As merchants cancel orders and reservations in the wake of the Covid-19 crisis, creditors should prepare themselves for a dramatic increase in consumers raising disputes in connection with charges for goods and services that they did not receive. Financial institutions could face significant liability, including class action exposure, if they fail to follow the Fair Credit Billing Act’s obligation to conduct a reasonable investigation into these billing disputes.

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