Regulations for the 2009 Credit Card Accountability, Responsibility, and Disclosure Act (CARD) include that credit card issuers must mail account statements 21 days prior to the payment due date and that credit card issuers are prohibited from giving credit cards to full-time college students under 21 years old unless the student can prove the means to pay or a parent\guardian cosigns for the card.

Question

Quizplus · Accepted Answer

The CARD Act of 2009 includes provisions to protect young consumers and ensure they have the ability to pay, as well as requiring issuers to send statements 21 days before the due date to give consumers adequate time to pay.