What is theCard Act of 2009?

The Card Act of 2009 is a law passed by the United States Congress and is designed to protect consumers from unfair practices by credit card companies. The law affects both consumers and credit card companies in the state of California. The Card Act of 2009 has many provisions that are beneficial to consumers. It prohibits credit card companies from raising a cardholder’s interest rate unless the cardholder is more than 30 days late in making a payment. It also restricts what fees credit card companies can charge, and it limits how often credit card companies can increase interest rates. The law also requires credit card companies to provide 45 days advance notice to consumers prior to increasing interest rates or changing other key terms of the card agreement. In addition, the Card Act of 2009 requires that credit cards only be marketed to persons under the age of 21 if they can provide evidence of income or have a co-signer over 21 years of age. This is designed to stop companies from targeting college students with high-interest rate cards. Overall, the Card Act of 2009 protects consumers by regulating the practices of credit card companies and increasing transparency in the credit card industry. This law helps make sure consumers understand the full costs and risks associated with taking on debt and prevents credit card companies from taking advantage of consumers.

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What is theCard Act of 2009?

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