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bill Progress


  • Not enacted
    The President has not signed this bill
  • The house has not voted
  • The senate has not voted
    IntroducedOctober 26th, 2009

Bill Details

Official information provided by the Congressional Research Service. Learn more or make a suggestion.
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Title

Credit Card Rate Freeze Act of 2009

Official Title

A bill to establish a moratorium on credit card interest rate increases, and for other purposes.

Summary

Credit Card Rate Freeze Act of 2009 - Prohibits a creditor, during a specified nine-month period, from: (1) increasing any annual percentage rate (APR), fee, or finance charge applicable to any outstanding balance of any credit card account under an open end consumer credit plan; or (2) changing the terms governing repayment of any outstanding balance, except as permitted by the Credit Card Accountability Responsibility and Disclosure Act of 2009. Authorizes the Board of Governors of the Federal Reserve System to prescribe implementing regulations.

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