The Credit Card Accountability, Responsibility and Disclosure (CARD) Act of 2009 added a number of disclosure, underwriting and servicing requirements to Regulation Z specific to credit card accounts. Join Regulatory Compliance Counsel Michael Christians for this informative 90-minute session covering each of these requirements.
The CARD Act requires issuers to provide both application and solicitation disclosures as well as account opening disclosures. In addition, it requires issuers to consider a cardholder’s ability to repay prior to opening a new credit card account. Finally, the CARD Act imposes a number of servicing requirements on credit card accounts, including periodic statements, error resolution procedures, limitation on penalty fees and rules related to over-the-limit transactions.
- Credit card disclosures
- Underwriting requirements
- Statement of Billing Rights
- Change in Terms Notice
- Rate Increases
- Payment Requirements