Law Commons^™

The Credit Card Act Of 2009 — What Is It, And What Does It Do?, Mary E. Matthews

Mary E Matthews

The Credit Card Accountability Responsibility and Disclosure Act of 2009 (“the Credit CARD Act”) is a promising answer to the problem of implementing reforms that protect credit card users. The Credit CARD Act seeks to protect consumers from misleading and unfair techniques such as high interest rates, improvident extensions of credit, exorbitant fees, charges for methods of payment, incomprehensible card agreements, double-cycle billing, deceptive introductory and promotional rates, and techniques increasing the likelihood of late payment. The Credit CARD Act implements stricter guidelines on credit card issuers. It requires them to provide written notice of any increase in annual percentage …