Credit CARD Act of 2009
Sponsor: CAROLYN MALONEY (D-NY)
Credit Card Accountability Responsibility and Disclosure Act of 2009 or the Credit CARD Act of 2009 - (Sec. 2) Authorizes the Board of Governors of the Federal Reserve System (Federal Reserve Board) to issue rules and publish model forms to implement this Act. (Sec. 3) Makes this Act effective nine months after its enactment. Title I: Consumer Protection - (Sec. 101) Amends the Truth in Lending Act (TILA), with respect to credit card accounts under an open end consumer credit plan, to require a creditor to provide written notice not later than 45 days prior to the effective date of: (1) any increase in an annual percentage rate (APR); and (2) any significant change, as determined by rule of the Federal Reserve Board, in the terms of the cardholder agreement (including an increase in fees or finance charges).
Finance and Financial Sector Topic assigned by the Congressional Research Service.
Who won, and how much of the country was behind them
The dotted gap is 3.0% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Yea | Won | 90 | 94.2% |
| Nay | Lost | 5 | 2.8% |
| Not represented on this question | No position taken | 0 | 3.0% |