News & Events

News & Events


Federal Reserve Board Issues First Interim Final Rule Under the Credit Card Act of 2009

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On July 15, 2008, the Federal Reserve Board (“FRB”) issued the first installment of rules amending Regulation Z and implementing the Credit Card Accountability, Responsibility and Disclosure Act of 2009. The interim final rule is effective on August 20, 2009; 90 days after President Obama signed the Credit Card Act of 2009 (“the Act”) into law. Lenders beware: some of the changes apply to all open-end consumer credit plans, not just to credit card accounts.

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