What is theCard Act of 2009?

The Card Act of 2009 is a law that aims to protect people in Illinois from unfair credit card practices. It was passed by the United States Congress and signed into law by President Obama on May 22nd, 2009. This Act puts restrictions on how credit card companies can operate. The Card Act of 2009 limits when and how issuers can raise interest rates on existing credit card accounts, requires greater disclosure of terms and conditions, and prohibits certain fees and practices. The Act also requires that credit card issuers provide cardholders with 45 days notice of any change in terms. This allows cardholders to compare rates and fees, and make an informed decision about which card is best for them. The Card Act of 2009 also requires that issuers clearly disclose information related to fees and other charges. This protects cardholders from hidden fees and surprises when reviewing their statements. Card companies must also allow customers to pay the full amount of their balance each month without any additional fees. The Card Act of 2009 is designed to help protect people in Illinois from unfair credit card practices. This law helps consumers understand the terms of their credit cards by requiring credit card companies to provide clear and concise terms and conditions. It also helps protect consumers from sudden and unexpected charges by prohibiting certain fees and practices.

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What is theCard Act of 2009?

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