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Credit CARD Act Update: Preparing for the February 22 Deadlines

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Credit CARD Act Update: Preparing for the February 22 Deadlines

Jim Vilker from Audit Link reviews the Credit CARD Act Update and the February 22 deadline.

This web conference is intended for CUs currently using CU*BASE online credit cards.

Topics include:

  • Rate management and the different ways credit unions have disclosed rates to members (including fixed, fixed until you decide to change, true variable, penalty rates for delinquent members, and first year prohibitions)
  • Fair interest applications
  • Over‐limit fees
  • Grace periods
  • Member’s ability to repay
  • Timely settlement of estates
  • Prohibition on credit cards to minors
  • Changes on up‐front disclosures
  • Periodic statement changes

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