Understanding the new credit card rules
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5 new rights for credit card users

Credit Card Rules » 5 new rights for credit card users

5 CARD Act gains
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Many consumers have never heard of the law that brought about recent changes in credit card disclosures, offers and industry practices. In fact, just half of credit card holders report awareness of the Credit Card Accountability, Responsibility and Disclosure Act of 2009, according to a 2011 survey from Synovate, a global market research firm.

Though the law rolled out in three main phases, the biggest round of provisions took effect on Feb. 22, 2010.

Here are five rights or protections consumers gained through the Credit CARD Act.




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Jeanine Skowronski

CFPB: Lender distorted credit reports

The Consumer Financial Protection Bureau has an eye on credit reporting issues. The agency took enforcement action against auto financer First Investors Financial Services Group Inc. Wednesday for distorting consumer credit records for years. Per the CFPB, First Investors, which lends primarily to subprime borrowers, failed to fix known flaws in a computer system that  ... Read more

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