Definition from Nolo’s Plain-English Law Dictionary
A consumer protection law also called the Credit CARD Act. Among its provisions is a prohibition against retroactive rate increases, a requirement that terms be clearly spelled out, and an extension of time before late fees can be imposed. The law also increases protections for students and young people when it comes to new credit card offers.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:27 pm