Consumers are protected by Chargeback under the circumstances of fraudulent transactions, by a certain set of Federal Laws. A person has two years for filing a dispute, by law. The circumstances like credit not received, fraud transaction, item not received and technical problems, fall under this category. The Fair Credit Billing Act of 1974 was the start of this process and has been laid to protect consumers having credit/debit cards. The Truth in Lending Act of 1968, laid its foundation.
