Rates Current as of Thursday February 09, 2012

Billing Error

A charge that appears on a periodic statement associated with an extension of credit such as a credit card, that was not authorized by the cardholder or the cardholders’ designee, was not properly identified, and was not accepted by the cardholder or the cardholder’s designee. A billing error can also be caused by a creditor’s failure to credit a payment or other credit to an account as well as accounting and clerical errors.

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