Get information on the Credit CARD Act

By Marcy Meyer

Use – and misuse – of credit cards is one of the most important topics in any financial fitness training.

Last year, Congress passed the Credit CARD Act to protect consumers from what many consider deceptive or unfair practices by credit card issuers. The law, which takes effect in February, contains new limitations on how payments can be applied to credit card balances, retroactive interest rate hikes, notice of changes to credit card agreements, over-the-limit fees, minimum ages without a co-signer, and more. Anyone who uses a credit card should know these new rules exist.

The Assets for Independence (AFI) Program office (our federal funding source for the NH Individual Development Account Program) is offering a free Webinar, The Credit CARD Act of 2009 and What it Means for Your Financial Education Program, about how this law might affect IDA program participants and the information organizations provide about credit when conducting financial fitness education training or counseling.

If you want to stay apprised of training opportunities like this one or just get the latest news on IDA-related topics, the AFI e-newsletter is a great source of information. Those who aren’t already on the AFI e-newsletter mailing list may want to subscribe.

Marcy Meyer is Director of the Community Loan Fund's Asset Development Program.