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Legal, Regulatory, and Privacy Issues

The Credit CARD Act of 2009 turns 1

Summary

What a difference a year makes. One year ago this week, President Obama signed historic legislation revamping how Americans acquire, use and pay for credit cards. Use this time line to view key developments affecting credit card users and their accounts.

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On May 22, 2009, President Obama signed into law the Credit CARD Act of 2009, which brought sweeping changes to credit cards. Use the time line below to view how the Credit CARD Act dramatically altered how we use our plastic.

Other interactives: A guide to the Credit CARD Act of 2009, An interactive look at your new credit card statement, Credit card reform legislation time line, The life cycle of a delinquent credit card account, Bankruptcy filings, state by state, 2005-2009, How credit card transactions work

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Published: May 14, 2010

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Credit Card Rate Report Updated: August 21st, 2019
Business
15.55%
Airline
17.49%
Cash Back
17.63%
Reward
17.49%
Student
17.69%

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