News

Credit Card Accountability Responsibility and Disclosure Act of 2009 (The CARD Act of 2009) now requires card issuers to provide consumers with more information to make informed decisions about their accounts. The new legislation requires issuers to:

• Make statements and communications easy to read and understand

• Schedule payment due dates on the same day each month

• Inform customers how long it will take to pay off their balance in three years

• Protect consumers under age 21 who aren't financially independent, by requiring a co-applicant