Truth in Lending Act (TILA): Federal law that requires clear disclosure of lending terms and costs to protect consumers in credit transactions.
Fair Credit Billing Act (FCBA): Federal law that protects consumers from unfair billing practices and provides mechanism for addressing billing errors.
Fair Debt Collection Practices Act (FDCPA): Federal law that prohibits deceptive and unfair debt collection practices and sets guidelines for debt collector behavior.
Electronic Funds Transfer Act (EFTA): Federal law governing electronic transfer of funds, establishing rights and responsibilities for electronic transactions.
Dodd-Frank Act: Comprehensive financial reform legislation that created the CFPB and established new consumer protections in financial transactions.
State Consumer Protection Laws: Varying state-specific regulations protecting consumers' rights in commercial transactions, including billing practices.
HIPAA: Federal law protecting patient health information, with specific requirements for healthcare billing and information disclosure.
Gramm-Leach-Bliley Act: Federal law requiring financial institutions to explain their information-sharing practices and protect sensitive data.
CFPB Guidelines: Regulatory requirements from the Consumer Financial Protection Bureau for billing statements and consumer financial products.
FTC Requirements: Federal Trade Commission regulations governing fair business practices, including billing and collection procedures.
Clear Disclosure Requirements: Mandatory elements including payment terms, due dates, late payment penalties, and interest rates that must be clearly stated.
Format Requirements: Specifications for presentation including readable font size, clear layout, required disclaimers, and language accessibility.
