The Fair Credit Billing Act (FCBA) and Electronic Fund Transfer Act (EFTA) establish guidelines for resolving mistakes on credit billing and electronic fund transfer account statements.

The FCBA and EFTA guidelines cover:

• Charges or electronic fund transfers that were neither made nor authorized by you
• Charges or electronic fund transfers showing the wrong amount or date, or that are incorrectly identified
• Computation errors
• Failure to correctly record payments, credits, or electronic fund transfers
• Failure to mail or deliver credit billing statements to your current address, when the address was received by the creditor in writing at least 20 days before the billing period ended
• Explanations or documentation you request regarding charges or electronic fund transfers because of possible errors

The FCBA applies only to credit accounts such as credit cards, department store accounts, and overdraft checking accounts. It does not apply to loans or credit sales paid on a fixed schedule, such as automobile loans. The EFTA applies to electronic fund transfers, such as ATM transactions, point-of-sale debit transactions, and other electronic banking transactions. For further information regarding these laws and other consumer and credit-related rights, visit the Federal Trade Commission's web site at www.ftc.gov.