credit card reform act News

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Change Index: Obama's 5 Most Far-Reaching Accomplishments to Date

(July 21) -- On Tuesday, President Barack Obama signed a new financial reform bill into law, the culmination of a two-year struggle to fundamentally alter how Wall Street does business in the wake of the 2008 economic crisis. Surge Desk's Dana Chivvis earlier highlighted the main changes the law will herald for consumers...

Background on credit card reform act

The Credit Card Accountability Responsibility and Disclosure Act of 2009 or Credit CARD Act of 2009 is a federal statute passed by the United States Congress and signed by President Barack Obama on May 22, 2009. It is 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 purposes." The bill was passed with bipartisan support by both the House of Representatives and the Senate.

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