CARD Legislation Finally Became Effective this Week!
February 25, 2010 by Marcy Einhorn, Esq.
The Credit Card Accountability Responsibility and Disclosure (C.A.R.D.) Act finally became effective this week, on 2/22/10.
The CARD Act offers much more protection than even the Federal Reserve’s regulations do, but still leaves plenty of opportunities for card companies to be creative when it comes to fees and fines.
New Accounts:
No new interest rates, no fees during the first year after an account has been opened, but some exceptions apply. Late payments trigger a notice requirement before...
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