Credit Law

Learn about credit laws like the Fair Debt Collection Practices Act and the Fair Credit Reporting Act. Find out how they affect your credit by signing up for your free account today.

How the Truth in Lending Act Helps You Shop for a Credit Card

Comparison shopping for credit cards is made easier because of the Truth in Lending Act. The Truth in Lending Act, first passed in 1968, requires credit card issuers to disclose important terms and conditions of credit card offers in all credit and charge card applications and solicitations. Solicitations are offers of credit that do not […] Read More

How the Equal Credit Opportunity Act Protects Credit Applications

Giving everyone in America a fair lending opportunity is the aim of the Equal Credit Opportunity Act. This law, which applies to all creditors, prohibits credit discrimination based on Race Color Religion National Origin Sex Marital Status Age Use of Public Assistance Creditors may not use any of the above information when deciding whether or […] Read More

Resolving Billing Errors With the Fair Credit Billing Act

Is there an inaccurate or unauthorized charge on your credit card? You’ve got plenty of rights, thanks to the Fair Credit Billing Act of 1974. With the help of the Fair Credit Billing Act you can file a dispute and free your credit card account of billing errors including: Unauthorized charges Charges for goods and […] Read More

Use Your Credit Clout: Credit Laws That are on Your Side

With all the talk in Congress over possible new credit card rules and regulations, you may not be aware that some credit laws have been around since the 1970’s and give you some serious credit clout — if you know how to use them. Here are the top ways you can exercise your credit rights. Read More

What is a Schumer Box?

A Schumer Box is an easy-to-read table or “box” that discloses the rates, fees, terms and conditions of a credit card agreement as required under the Federal Truth in Lending Act (TILA). It requires that all credit card companies use the same standardized format so that consumers can easily understand and compare rates and fees […] Read More

The Fair Credit Reporting Act

As a public service, the staff of provides this version of the Fair Credit Reporting Act (FCRA), 15 U.S.C. § 1681 et seq. prepared by the Federal Trade Commission. This version uses FCRA section numbers (§§ 601-625) in the headings. (The relevant U.S. Code citation is included with each section heading and each reference to the FCRA in the text.) This document is intended only as a convenience for you and not a substitute for the actual text in the U. S. Code. The Commission’s website posted this document on October 20, 2006. Read More

The Fair Debt Collection Practices Act

It is the purpose of this title [15 USCS § § 1692 et seq.] to eliminate abusive debt collection practices by debt collectors, to insure that those debt collectors who refrain from using abusive debt collection practices are not competitively disadvantaged, and to promote consistent State action to protect consumers against debt collection abuses. Read More

How the Credit CARD Act of 2009 Affects You

On May 22, 2009, the Credit CARD Act of 2009 was signed into law by President Barack Obama. The full title of the law — Public Law 111-24 — is the Credit Card Accountability Responsibility and Disclosure Act of 2009. It amends the Truth In Lending Act, the Federal Trade Commission Act and the Electronic Funds Transfer Act. Read More


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