Review of Clause 20 (Chargebacks) – March 2012

The CCMC is pleased to release the final report of its Inquiry regarding credit card chargebacks.

In conducting the Inquiry, the CCMC identified that the banks received in excess of 90,000 chargeback requests in March 2011, the sample month, with a corresponding low number of complaints. We also identified areas of good industry practice and areas for improvements within banks. The CCMC has discussed the findings with individual banks and will conduct a follow up exercise in late 2012 to gauge improvements in compliance with the Code.

For a copy of the full version of the Chargebacks report, please click here.