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The Fair Credit Billing Act Requires That Creditors Promptly Acknowledge

question 64

True/False

The Fair Credit Billing Act requires that creditors promptly acknowledge in writing consumer billing complaints and investigate billing errors.


Definitions:

Legal Offer

A proposal by one party to another intended to create a legally binding agreement upon acceptance.

Transformation Processes

The operations or activities that convert inputs into outputs, adding value in manufacturing or service provision.

Operations Management

The administration of business practices to create the highest level of efficiency possible within an organization.

Quality

How well a good or service meets or exceeds customers’ expectations, or the degree to which a product conforms to established tolerance standards.

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