Billing error resolution, 12 CFR 1026.13

Summary

Definition of billing error. For purposes of this section, the term billing error means:

A reflection on or with a periodic statement of an extension of credit that is not made to the consumer or to a person who has actual, implied, or apparent authority to use the consumer’s credit card or open-end credit plan.

A reflection on or with a periodic statement of an extension of credit that is not identified in accordance with the requirements of §§ 1026.7(a)(2) or (b)(2), as applicable, and 1026.8.

A reflection on or with a periodic statement of an extension of credit for property or services not accepted by the consumer or the consumer’s designee, or not delivered to the consumer or the consumer’s designee as agreed.

A reflection on a periodic statement of the creditor’s failure to credit properly a payment or other credit issued to the consumer’s account.

A reflection on a periodic statement of a computational or similar error of an accounting nature that is ...