Notification of credit card issuer by seller of return of goods, etc., by obligor; credit for account of obligor

  1. Law
  2. USC 15
  3. Commerce And Trade
  4. CONSUMER CREDIT PROTECTION
  5. CONSUMER CREDIT COST DISCLOSURE
  6. Credit Billing
  7. Notification of credit card issuer by seller of return of goods, etc., by obligor; credit for account of obligor

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§1666e. Notification of credit card issuer by seller of return of goods, etc., by obligor; credit for account of obligor

With respect to any sales transaction where a credit card has been used to obtain credit, where the seller is a person other than the card issuer, and where the seller accepts or allows a return of the goods or forgiveness of a debit for services which were the subject of such sale, the seller shall promptly transmit to the credit card issuer, a credit statement with respect thereto and the credit card issuer shall credit the account of the obligor for the amount of the transaction.

(Pub. L. 90–321, title I, §166, as added Pub. L. 93–495, title III, §306, Oct. 28, 1974, 88 Stat. 1514 .)


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