Credit Card Accountability, Responsibility and Disclosure Act of 2009

The Credit Card Accountability, Responsibility and Disclosure Act of 2009 which is sometimes referred to as the Credit Card Act of 2009, is a federal act which limits when a credit card company can raise interest rates on existing balances. It also requires credit card companies to give consumers 45 days notice of any significant changes to the terms of the credit card and give consumers at least 21 days to pay their monthly bill. This was signed into law on May 22, 2009.

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