What additional rights does the Fair Credit Billing Act (FCBA) provide to consumers?

The Fair Credit Billing Act (FCBA) is designed to protect consumers from unfair billing practices and to provide a mechanism for addressing billing errors. One of the key provisions of the FCBA is that consumers have the right to receive a written notice of their rights to dispute charges that they believe are inaccurate or unauthorized. This means that when a consumer raises a dispute about a billing error, the creditor must inform the consumer of their rights to address these issues formally.

This written notice ensures that consumers are aware of their legal rights and the steps they can take to resolve billing disputes. It serves as an important tool for consumers, allowing them to take informed actions when they face potential inaccuracies in their credit card bills.

The other options do not accurately reflect the intent or provisions of the FCBA: disputing auto insurance claims is not covered under this act; negotiating payment terms is typically a part of loan agreements rather than specifically addressed by the FCBA; and the cancellation of credit cards, while it may involve certain rights, is not directly governed by the provisions of this act.