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The Consumer Financial Protection Bureau in its October 2013 report on the CARD Act found that between the first quarter of 2009 and December 2012, credit card interest rates increased on average from 16.2% to 18.5%, while the “total cost of credit,” that is, the total of all fees and interest paid by all consumers as a percentage of the ...
Prior to the Durbin amendment, card swipe fees were previously unregulated and averaged about 44 cents per transaction. [3] Merchants lobbied heavily for a rule to limit debit card swipe fees. [4] They accomplished this when the Durbin amendment passed with the Dodd-Frank financial reform legislation on July 21, 2010. [5]
The credit card reform bill, otherwise known as the Credit CARD Act, goes into effect next month (on February 22, to be exact). While there's a lot to be grateful for in this legislation, there ...
Credit CARD Technical Corrections Act of 2009: Made a technical correction to the Credit CARD Act of 2009: 111-94: November 6, 2009 (No short title) Posthumously granted honorary citizenship to Casimir Pulaski: 111-95: November 6, 2009 (No short title) Granted a federal charter to the Military Officers Association of America: 111-96: November 6 ...
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The credit card reform law, otherwise known as the CARD Act, goes into effect on the 22nd of this month, and it's going to change a lot of things about the way your credit card issuers treat you.
March 30, 2010: Health Care and Education Reconciliation Act of 2010, including the Student Aid and Fiscal Responsibility Act, Pub. L. 111–152 (text), 124 Stat. 1029 May 5, 2010: Caregivers and Veterans Omnibus Health Services Act of 2010 , Pub. L. 111–163 (text) (PDF) , 124 Stat. 1130
Getty Images In 2009, the Credit Card Accountability, Responsibility, and Disclosure Act became law. The law's intent was to set limits on certain fees that credit-card issuers charged their ...