What is LawBrain?
It's a living legal community making laws accessible and interactive. Click Here to get Started »

Credit card reform

From lawbrain.com

Credit card reform includes legislation and other measures intended to protect consumers from unscrupulous practices from credit card companies.

  • This LawBrain entry is a stub. Please help us expand it! Click the 'Edit' tab above to add to this page.

Contents

Overview

The Credit CARD Act of 2009 enacted by the U.S. federal government began to take effect across the United States in February 2010. The federal legislation included credit card reform measures such as prohibition of universal default, requiring minimum time limit for certain promotional interest rates, and restriction of some credit card fees.[1]

The reforms also set rules on credit card payment processing and what is reported in billing statements. The reform measures also restrict access to credit to individuals under the age of 21. [2]

References

  1. http://www.washingtonpost.com/wp-dyn/content/article/2010/02/19/AR2010021905952.html
  2. http://www.washingtonpost.com/wp-dyn/content/article/2010/02/19/AR2010021905952.html

External Links

Related Resources on FindLaw

Related Blogs on FindLaw


                                                                                Web Services by Yahoo!

    See Also

    Contributors

    FindLaw Michelle, FindLaw Nira