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Category Icon College Cost Reduction and Access Act (1)
Category Icon Credit Card Accountability Responsibility and Disclosure Act (CARD Act) (7)
Category Icon Credit Repair Organizations Act (CROA) (1)
Category Icon Equal Credit Opportunity Act (ECOA) (1)
Category Icon Fair and Accurate Credit Transactions Act (FACTA) (3)
Category Icon Fair Credit Reporting Act (FCRA) (4)
Category Icon Fair Debt Collection Practices Act (2)
Category Icon Overdraft Rules for Debit and ATM Cards (1)
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There were 23 articles found in this category:
  1. questionWhat is the FDCPA?
    The Fair Debt Collection Practices Act (FDCPA) is the federal law that defines and governs how collection agencies can operate. The law protects consumers from abusive collection practices by debt collectors (a debt collector is someone who regularly collects debts owed to others, including coll ...

  2. questionWhen does the CARD Act go into effect?
    The CARD Act has three phases of implementation: August 2009, February 2010, and July 2010. Read about the changes that went into effect on August 20, 2009. Read more about the CARD Act: What it Does ... and Doesn't Do

  3. questionWhat is the Credit Repair Organizations Act?
    The Credit Repair Organizations Act (CROA) defines how credit repair organizations are allowed to operate. It is a myth that credit repair organizations are illegal. That is only true in Georgia where operating a credit repair organization is a misdemeanor. In every other state, it is perfectly ...

  4. questionWhat are the new rules regarding overdraft fees on debit accounts?
    On November 12, 2009, the Federal Reserve announced new rules that will prohibit banks from charging their customers overdraft fees unless the customer opts in. This means that a consumer who does not opt in will be denied at the register if his account balance does not cover his debit card purc ...

  5. questionWhat is the Mortgage Forgiveness Debt Relief Act?
    This Act protects consumers who have foreclosed or sold their homes in a short sale from the added burden of a hefty tax bill on the forgiven debt. Normally anyone whose debt is forgiven is responsible for paying taxes on the amount forgiven (known as "phantom income"). Under the Act, a taxpayer ...

  6. questionIn regards to student loans, what rights does the College Cost Reduction and Access Act give me?
    The Department of Education's new Income-Based Repayment program (IBR) gives borrowers with limited incomes some relief from hefty student loan payments. As part of the College Cost Reduction and Access Act of 2007, IBR went into effect on July 1, 2009. Under the rules of the IBR program, the am ...

  7. questionWhat CARD Act changes will become effective in August 2010?
    Effective August 22, 2010: If a borrower’s interest rate is increased due to being 60 days late on a credit card payment, the credit card issuer will have to revert back to the original rate after the borrower completes six months of on-time payments. New rules will limit fees on gift ca ...

  8. questionWhat is the CARD Act? What will it do?
    The CARD Act (Credit Card Accountability Responsibility and Disclosure Act) was signed into law on May 22, 2009. It amends several other pieces of legislation (including the Truth In Lending Act, the Federal Trade Commission Act, and the Electronic Funds Transfer Act). The CARD Act is being rol ...

  9. questionWhat CARD Act changes become effective as of February 2010?
    Effective February 22, 2010: Credit card issuers will not be able to increase interest rates on existing credit card balances unless the borrower is at least 60 days late on the account. This will eliminate the retroactive rate increases and the universal default clause where credit card issue ...

  10. questionWhat is FACTA?
    The Fair and Accurate Credit Transactions Act of 2003 (more commonly referred to as the FACT Act, or FACTA) ushered in important new protections for American consumers. Perhaps most importantly, under FACTA, consumers are entitled by law to at least one free credit report every twelve months fro ...

  11. questionShould I get all three of my free annual credit reports at the same time?
    To get the most out of the free credit report provisions of the FACT Act, when you request your free credit reports from each of the three major credit reporting agencies, stagger them throughout the year rather than getting all three at once. This will give you a series of snapshots of your cre ...

  12. questionWhat is the Fair Credit Reporting Act (FCRA)?
    The Fair Credit Reporting Act (FCRA) is the federal law that regulates how consumer credit reporting agencies can use your credit information and what measures they must take to protect this information. It defines when they can disclose your credit information and under what circumstances. Read ...

  13. questionWhat are my rights under the Fair Credit Reporting Act (FCRA)?
    The FCRA was designed to ensure that consumer reporting agencies, or CRAs, “furnish correct and complete information to businesses to use when evaluating your application.” To help ensure the information is correct and complete, the Act ensures that consumers can check their own repo ...

  14. questionWhat rights do I have under the Fair Debt Collection Practices Act?
    Your debt collection rights under the Fair Debt Collection Practices Act include the following: Collectors cannot call you repeatedly with the intent to annoy, abuse, or harass you and are NOT allowed to contact you before 8:00 a.m. or after 9:00 p.m. local time. If you notify a collector in wr ...

  15. questionWhat are my rights if I am denied credit?
    If you are denied credit, employment, insurance or other benefits based on the information in your credit report, under the Fair Credit Reporting Act, you are entitled to a notice of the “adverse action”. This adverse action notice will explain why you were denied, which credit repo ...

  16. questionHow will the CARD Act affect young consumers?
    According to provisions in the CARD Act of 2009, no credit card may be issued to a consumer under the age of 21, unless he or she has submitted a written application to the card issuer that meets the following requirements: The signature of a cosigner, including the parent, legal guardian, spou ...

  17. questionHow do I order my free annual credit reports?
    Under the FACT Act (also known as FACTA), all consumers are entitled by law to at least one free credit report every twelve months from each of the three credit bureaus. This important law also marks the first time in history that this information is available from a centralized source (AnnualCr ...

  18. questionIs it true that rewards cards will withhold or take away rewards if I'm late paying my bill?
    Yes, this is true. Starting in 2010, unless you pay your bill on time, you may not get the points/rewards you earned making purchases on your credit card for the month you paid late. You may be able to get the rewards back, but it may also cost you to do so. American Express Co., for example, is ...

  19. questionWhat is the Equal Credit Opportunity Act (ECOA)?
    The Equal Credit Opportunity Act (ECOA) is the law that protects consumers from discrimination on the basis of race, sex, public assistance income, age, marital status, nationality, or religion in the credit and lending process.

  20. questionAre there laws against identity theft?
    Yes. In 1998, Congress passed the Identity Theft and Assumption Deterrence Act (918 U.S.C. §1028), which makes it a federal felony to use another person's identification with the intent to commit unlawful activity. Federal agencies such as the Secret Service, the FBI, and the U.S. Postal In ...

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