Attorney General Gansler to Attend Signing of the CARD Act

BALTIMORE, MD (May 20, 2009) – Representing Attorneys General from across the country, Attorney General Douglas F. Gansler will join President Barack Obama as he signs the Credit Card Accountability, Responsibility and Disclosure (CARD) Act of 2009 at the White House on Friday, May 22, 2009 at 3:00 p.m.

Taking full effect in February 2010 and aimed at protecting consumers from unfair rate hikes and abusive fees and penalties, the bill sharply restricts credit card issuers’ ability to raise interest rates on cardholders’ existing balances; to charge certain fees; and to levy unreasonable penalties onto cardholders. The CARD Act is a package of new limits on credit card interest rates and fees that won final approval from the U.S. Congress on Wednesday.