Credit CARD Act of 2009 – Overview and Summary of Provisions

• By: Staff Editor
• Date: October 14, 2011

The Credit Card Accountability Responsibility and Disclosure Act or Credit CARD Act of 2009 was enacted into law by President Obama. The aim of the Act is stated to be to “amend the Truth in Lending Act to establish fair and transparent practices relating to the extension of credit under an open end consumer credit plan.” It was intended to comprehensively reform how credit card companies charge card holders.

This article gives a brief overview and summary of provisions of the Credit CARD Act.