• President Obama Signs the Credit Card Accountability, Responsibility and Disclosure Act of 2009
  • June 23, 2009
  • Law Firm: Alston & Bird LLP - Atlanta Office
  • On Friday, May 22, 2009, President Obama signed into law the Credit Card Accountability, Responsibility and Disclosure Act of 2009 (the "Credit CARD Act"), effective February 22, 2010, which amends the Truth in Lending Act (TILA) by establishing new and revised practices and disclosures relating to the extension of consumer credit, and amends the Electronic Fund Transfer Act (EFTA) by establishing new requirements applicable to issuers of gift certificates and prepaid/gift cards.