Credit Card Accountability Responsibility and Disclosure Act

The Credit Card Accountability Responsibility and Disclosure Act, commonly known as the Credit CARD Act, is a U.S. law enacted in 2009 that aims to protect consumers from unfair credit card practices. It requires credit card companies to provide clearer information about terms and fees, limit interest rate increases, and eliminate misleading marketing. The Act also established rules for how and when cardholders are notified of changes and made it easier for consumers to manage their credit more responsibly. Overall, it promotes transparency and fairness in the credit card industry.