A consumer protection law called the Credit Card Accountability Responsibility and Disclosure Act of 2009 was passed to protect consumers from unfair business practices by credit card issuers. Increased disclosure of credit card terms and conditions, as well as limitations on associated fees and interest rates, are required to achieve this.
A bank or other financial institution issues a small, rectangular piece of plastic or metal known as a credit card, which allows its owner to borrow money in order to pay for goods and services at establishments that accept credit cards.
To protect the customers against unfair practice The Credit Card Accountability Responsibility and Disclosure Act (CARD Act) were passed.
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