Credit CARD Act
Understanding how the Credit Cardholders Bill of Rights impacts you.
The Credit Card Accountability, Responsibility and Disclosure Act – called the Credit CARD Act for short and also known as the Credit Cardholders Bill of Rights – is a key piece of legislation that passed through Congress in 2009 following the Great Recession. It provides important revisions to the Truth in Lending Act (TILA) and other laws that govern open-end credit plans. In other words, it clarifies TILA and other laws to provide specific regulations for credit card issuers.
The information below is designed to help you understand what the Credit CARD Act says and how it protects you from unlawful practices by credit card issuers. From protections against unfair rate increases to protections for young consumers, the Credit CARD Act protects your rights against unfair account and advertising practices. If you have questions or need help addressing challenges with credit card debt, call Consolidated Credit today at (844) 276-1544 to request a free, confidential evaluation from a certified credit counselor.