We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Basics Of The Credit Card Reform Bill

Law360 (June 1, 2009, 12:00 AM EDT) -- As of May 29, credit cardholders actually have rights when it comes to credit card fees. When President Barack Obama signed the “Credit Cardholders Bill of Rights,” it changed the game for credit card issuers by limiting fees and contract changes.

The Credit Card Accountability Responsibility and Disclosure Act of 2009 passed overwhelmingly by Congress and signed with much fanfare by the president on May 22, 2009. The law doesn’t set any limits on interest rates, but it does make it much harder for card-issuers to...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.