123STA T . 1 7 3 4PUBLIC LA W 111 – 24 —M A Y 22 , 2 0 0 9PublicLaw1 11 –24 111 thCongres s A n Act Toamendth eT ru th i n L endin gAc ttoe s ta bl ish f air and trans p arent practices relating to the e x tension of credit under an open end consumer credit plan , and for other purposes .Beit e nac te dby t h e S enate and Hous eo fR e pr esentati v es of the U nited States of Am erica in C on g ress assemb l ed ,SECTION1. S H O R T TIT L E
T AB LEO F CONTENTS. (a)SHORTTI T LE.— T hisActm a ybe cite d as the ‘ ‘ Cr edit Card Acc oun tabi l ity R es p onsibility and D isclosure Act o f20 0 9’ ’orthe ‘‘Credit CARD Act of 2009’’. (b) T AB LEO F CO N TENT S .— The table of contents for this Act is as follo w s
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ec. 1 . Short title
table of contents. Sec. 2 . R egulator y authority. Sec. 3 . E ffecti v e date. T I TLE I —CON S UM ER P ROTECTION Sec. 1 0 1. Protection of credit cardholders. Sec. 102. Limits on fees and interest charges. Sec. 103. Use of terms clarified. Sec. 10 4 . Application of card payments. Sec. 10 5 . Standards applicable to initial issuance of subprime or ‘ ‘fee harvester ’ ’ cards. Sec. 10 6 . Rules regarding periodic statements. Sec. 10 7 . Enhanced penalties. Sec. 10 8 . Clerical amendments. Sec. 10 9 . Consideration of Ability to repay. TITLE II—EN H ANCE D CONSUMER DISCLOSURES Sec. 201. Payoff timing disclosures. Sec. 202. Re q uirements relating to late payment deadlines and penalties. Sec. 203. Rene w al disclosures. Sec. 204. Internet posting of credit card agreements. Sec. 205. Prevention of deceptive mar k eting of credit reports. TITLE III—PROTECTION O FY OUN G CONSUMERS Sec. 301. Extensions of credit to underage consumers. Sec. 302. Protection of young consumers from prescreened credit offers. Sec. 303. Issuance of credit cards to certain college students. Sec. 304. Privacy Protections for college students. Sec. 305. College Credit Card Agreements. TITLE I V —GIFT CARDS Sec. 401. General - use prepaid cards, gift certificates, and store gift cards. Sec. 402. Relation to State laws. Sec. 403. Effective date. TITLE V—MISCELLANEOUS PROVISIONS Sec. 501. Study and report on interchange fees. Sec. 502. B oard review of consumer credit plans and regulations. 15USC 1 60 1 note. C r e di tC a rd Ac co u nta b i l it yR e sp onsibility and D isclosure Act o f2 00 9 . M ay 22 , 2009 [H .R. 62 7]
