Payment Glossary

FDCPA (Fair Debt Collection Practices Act)

Approved in 1977, the Fair Debt Collection Practices Act allows for legal consumer protection against abusive debt collection practices.

Related Terms

  • Cardholder

    A cardholder refers to the person to whom a credit or debit card is issued.

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  • Settlement Date

    The date an exchange of funds will be reflected on the books of the Federal Reserve Bank.

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