Summary: S.1927 — 111th Congress (2009-2010)All Information (Except Text)

There is one summary for S.1927. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (10/27/2009)

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.