What is Credit Card Act of 2009?

The Credit Card Act of 2009 is a federal law that was enacted to protect consumers from unfair and deceptive credit card practices. It was designed to protect consumers from unfair and deceptive credit card practices, such as raising interest rates without prior notice, charging unreasonable late fees, and allowing people under the age of 21 to open a credit card without making sure they can pay the bill. The law also required companies to post their terms and conditions clearly and to provide at least 45 days of advance notice before making changes to terms, like a rate increase. The law is overseen by the Consumer Financial Protection Bureau, which makes sure that companies stay in compliance. In Washington, the Act is enforced by the Washington State Department of Financial Institutions. The department protects Washington consumers from abusive practices by monitoring credit card companies operating in the state and enforcing the law when necessary. The Credit Card Act of 2009 was a significant step forward in protecting consumers from unfair and deceptive credit card practices. It has made it more difficult for credit card companies to hide behind confusing terms and conditions, and has given consumers the ability to make more informed decisions when it comes to credit cards.

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What is Credit Card Act of 2009?

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