Credit Card Accountability Responsibility and Disclosure Act Provides Expanded Protections for Consumers

June 12, 2009
The Credit CARD Act of 2009 that was recently passed is aimed at protecting credit card consumers from certain industry practices that have been condemned by consumer protection groups. By amending the Truth in Lending Act, the new legislation places restrictions on how credit card companies may target consumers, administer their accounts, and adjust to changes in credit risk attributable to individual cardholders. This update highlights key provisions that are expected to have the most significant impact on credit card lending and operations.