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Thursday, April 17th 2014

Credit card reform
How credit card reform will impact you

Credit CARD Act of 2009 complete article archive

Overview

A guide to the Credit CARD Act of 2009 -- The federal government has enacted sweeping reforms into how credit cards work; learn what they mean to you through this interactive guide ... (more)

Interactive time line: How the bill became law, when its provisions take effect -- See the key moments when the sweeping credit card reform bill became a law, and when its different provisions take effect ... (more)


How the Credit CARD Act affects consumers

What's NOT covered by new law -- Most consumers know card changes have arrived, but they won't be a panacea ... (more)

White House to answer consumer questions about CARD Act -- One of Barack Obama's economic advisers, Austan Goolsbee, will appear on a live video town hall Feb. 22 to discuss the credit card reform law with consumers who will submit questions via CreditCards.com  ...(more )

No payments, no interest -- not anymore! -- Traditional 'no interest, no payment'plans are going the way of the dodo, done in by a change in federal lawthat goes into effect Feb. 22 ... (more )

5 smart moves to make before the new credit card law takes effect -- For some, swift action is called for tolock in a deal before the law's provisions kick in Feb. 22. For others,the best move is to wait ...(more )

Feds plug loophole that prevented credit card rates from falling -- The Federal Reserve fixed a problem inthe wording of the Credit CARD Act that would have made consumers wait45 days if they wanted reduced interest rates ... (more )

Poll: On eve of credit card reform, few understand what new law holds -- Significant numbers of consumers areunaware of the most important elements of the new package of creditcard rules. Worse, many have erroneous assumptions about what the newrules do address ... (more )

What the new credit card rules mean for you -- The majority of the consumer protections of the Credit CARD Act of 2009 kick in Feb. 22, 2010. Here's how its provisions will affect you ... (more)

Will the new credit card law hurt more consumers than it helps? -- Card issuers say the new law will hurt consumers; consumer advocates say the card issuers are bluffing ... (more)

How to cope until the new credit card rules take effect -- Some say cardholders should wean themselves off of credit cards, pay down debt and pay on time during the period before new protections go into effect ... (more)

Interactive: How your monthly credit card statement will look in 2010 -- Federal regulators have asked credit card issuers to make monthly statements easier to understand. The deadline for the changes to take effect is July 1, 2010, although some issuers may roll out revamped statements sooner ... (more)

Consumers gain right to opt out of credit card rate increases -- The first phase of the new Credit CARD Act of 2009 became effective Aug. 20, lengthening notice requirements and giving consumers the right to opt out of rate increases ... (more)

Fixed rates shift to variable rates -- In advance of new rules that would limit an issuer's ability to alter a fixed rate account, credit cardholders are being moved in droves to variable rate cards ... (more)

Credit card issuers: Sorry, new law says we can't cut your rates -- Credit card issuers turn on its head the reform law that bans sudden rate increases; they say that it also forbids quick rate cuts ... (more)

Annual fees return in credit card mail offers -- Once nearly extinct for people with good credit, card offers with annual fees are rebounding, research firm Synovate says ... (more)

Creative new fees escape CARD Act rules, surprise consumers -- The Credit CARD Act of 2009 puts the lid on some charges levied against cardholders, but a report shows that a new crop of fees are taking their place ... (more)

Instant in-store credit card offers in jeopardy -- Retailers say instant credit card offers won't be possible if consumers have to provide paycheck stubs or other income information at the cash register ... (more)

New law bans payment allocation trickery -- If you use your credit cards for balance transfers or cash advances in addition to making purchases, your credit card payments will soon be applied to higher interest balances first ... (more)

New credit card rules don't cover business, corporate credit cards -- New credit card rules give greater protections to consumers and families with credit cards -- but not to corporate or small business cardholders ... (more)

Credit card reform law quirk: 45 days' notice becomes 14 -- Yes, the new credit card reform law requires 45 days' notice of rate hikes, but if you use the card after 14 days, the new rate applies ... (more)

4 ways to fight minimum monthly payment increases -- Thousands of credit card customers were surprised by news that their credit card minimum payments will more than double. Find out what your options are ... (more)

Co-signed credit cards: Unloved option poised for comeback? -- Experts say they're a headache, issuers rarely offer them, yet co-signed credit card are making a comeback as a more-regulated industry searches for its lost profits ... (more)

4 questions to ask before you co-sign on a credit card -- Explore alternatives and find out what you're in for with these questions for anyone who asks you to be a co-signer on a credit car or other loan ... (more)

Issuer of 79.9 percent interest rate credit card defends its product -- Subprime credit card marketers are looking for ways around new restrictions on sky-high fees for bad credit cards. One option they're testing: sky-high interest rates ... (more)

Discover debuts reform-law compliant credit card terms -- Discover is the first of the major credit card issuers to give cardholders details of new terms under credit card law provisions ... (more)

 

How the Credit CARD Act affects young adults under 21

Once secret credit card college marketing deals to be revealed -- The credit card law requires disclosure of the highly lucrativeagreements under which colleges were paid to let card issuers markettheir wares to students, alumni... (more)

Era of readily available credit cards for young adults ends -- Students, once coveted by card issuers, now have fewer choices for obtaining credit... (more

Students, credit cards and the new reform law: The fine print -- Credit cards and college students: How the new law changes the marketing of and access to credit cards for young adults ... (more)

Law may force parents, children to talk about credit cards -- The Credit CARD Act of 2009 limits issuing and marketing credit cards to people under 21. It may mean more parents will have to discuss managing credit with their children ... (more)

A credit card contract for parents, adult children -- This downloadable contract between parents and their young adult children about credit card use can be a starting point for talks about co-signing for a credit card ... (more)

College students love, hate new credit card law -- College students across the country both praise and condemn the law that will restrict issuing credit cards to anyone under 21 ... (more)

Law alters cozy relationship between colleges, credit card issuers -- New credit card legislation will change the cozy relationships between banks and colleges -- and mean less free pizza for students ... (more)

Credit card video: New rules for credit cards on campus -- CreditCards.com talked to students at the University of Texas at Austin to get their reaction to upcoming laws that limit credit card access for people under 21 years of age ... (more)

Students react to new laws limiting their access to credit cards -- We talked to college students at the University of Texas at Austin and the University of Missouri to get their reaction to new laws restricting their access to credit cards. Their opinions varied widely. Click through to see their reactions ... (more)

Students wary of new law restricting their access to credit cards -- Young adults will see their access to credit restricted due to the Credit CARD Act of 2009; we surveyed campuses to see how students say it will affect them ... (more)

Fed: Credit card issuers stay far away from college campus -- Under newly issued federal regulations, card issuers have to stay at least 1,000 feet away from campus ... (more)

Credit card marketers drop out of college -- Fall 2009 is card issuers' last unfettered chance to sign up students. Rather than give an all-out marketing blitz in its last chance, issuers pull back ... (more)

Piggybacking meant to jump-start credit may backfire -- Becoming an authorized user on a parent, guardian or other adult's credit card account can have rewards as well as pitfalls. Bad payment habits of the account holder can ruin the authorized user's credit score ... (more)

Co-signed credit cards: Unloved option poised for comeback? -- Experts say they're a headache, issuers rarely offer it, yet the co-signed credit card may be making a comeback as a more-regulated industry searches for its lost profits ... (more)

4 questions to ask before you co-sign on a credit card -- Explore alternatives and find out what you're in for with these questions for anyone who asks you to be a co-signer on a credit car or other loan ... (more)


How the Credit CARD Act affects gift cards

Fed issues rules restricting gift card fees, restrictions -- Clearer disclosures of gift card fees terms and conditions are also included in the rules that take effect in August 2010 ... (more)

Buyers' guide to gift cards: 5 questions to ask before buying -- Want to save money on gift card purchases? Ask yourself some key question and do a bit of homework; your extra effort can mean cash left over in your pocket ... (more)


Card reform congressional action

Credit CARD Act transcript

U.S. House approves credit card watchdog agency -- The U.S. House approved sweeping new reforms that include creating a watchdog agency to safeguard consumers from abuses and deception in credit cards, mortgages and other financial products ... more)

Obama proposes new consumer protection agency for credit cards -- The Obama administration proposes creating a Consumer Financial Protection Agency as a consumer watchdog for credit cards and other complicated financial products ... (more)

Obama signs new credit card reforms into law -- His signature starts the enactment clock ticking on new consumer protections ... (more)

House committee: Move up credit card law -- A key U.S. House committee voted to move up implementation of interest rate restrictions in the Credit CARD Act by nearly three months to Dec. 1, 2009, to fast-track consumer protections ... (more)

Senate passes credit card reform bill -- Riding on a wave of anti-bank, pro-consumer sentiment, the U.S. Senate passed unprecedented credit card industry reforms designed to help millions of families struggling to pay credit card debt ... (more)

House easily passes credit card reform bill -- The U.S. House of Representatives again passes tough consumer credit card protections, but this time with presidential backing ... ( more


Federal Reserve guidelines

Fed: Want a credit card? Prove you can pay the bill -- In a new 800-page document released Sept. 29, the Fed requires credit card issuers to confirm borrowers' ability to pay ... (more)

Federal Reserve issues final rules on first phase of Credit CARD Act -- The Federal Reserve released the interim final rules on the first phase of the new Credit CARD Act of 2009 covering advance notice of card changes, the right to opt out of changes and providing at least 21 days to pay monthly bills ... (more)

Federal banking regulators finalize sweeping rule changes for credit cards -- Federal regulators approved the most sweeping credit card industry reforms in nearly three decades, limiting interest rate hikes on existing credit card balances, giving cardholders a reasonable amount of time to pay bills and requiring better disclosure of key credit card terms ... (more)

Back to main page: Credit card reform arrives


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Updated: 04-17-2014

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