General Gansler to Attend Signing of the CARD Act
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.