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The Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009 is a federal statute passed by the United States Congress and signed by U.S. President Barack Obama on May 22, 2009. It is a comprehensive credit card reform legislation that aims "to establish fair and transparent practices relating to the extension of credit under an open end consumer credit plan, and for other ...
The Durbin amendment, implemented by Regulation II, [1] is a provision of United States federal law, 15 U.S.C. § 1693o-2, that requires the Federal Reserve to limit fees charged to retailers for debit card processing. It was passed as part of the Dodd–Frank financial reform legislation in 2010, as a last-minute addition by Dick Durbin, a ...
This month, Congress will vote on a bill to eliminate almost all of the funding for popular credit card reward programs like cash back and travel points. This legislation would allow retailers to...
A bipartisan bill aimed at promoting transparency and competition in the credit card market is gaining both support and opposition as it sits in deliberation with the Committee on Banking, Housing,...
The Fair Credit and Charge Card Disclosure Act (abbreviated as the FCCCDA) is an American consumer protection law that requires credit card companies and loan agencies to disclose any "fine print" about a loan or line of credit to the consumer. [1] This includes information about variable interest rates and fees.
Opponents of credit card swipe fee legislation claim it will benefit big box retailers, cause harm to consumers and small businesses. From our readers:
Fair Credit Billing Act. The Fair Credit Billing Act (FCBA) is a United States federal law passed during the 93rd United States Congress and enacted on October 28, 1974 as an amendment to the Truth in Lending Act (codified at 15 U.S.C. § 1601 et seq.) and as the third title of the same bill signed into law by President Gerald Ford that also ...
A bill that would slightly reduce credit card ‘swipe fees’ is moving quickly through the Pa. legislature, but while merchants are on board, banks and credit card companies are not.