To establish a moratorium on credit card interest rate increases, and for other purposes.
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.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 189.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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