Reg Z Compliance dates already accelerated by the CARD Act may be moved up to December of this year with passage of the ‘‘Expedited CARD Reform for Consumers Act of 2009.”
For card issuers already struggling with portions of the Act that go into effect this week (see Countdown to the CARD Act Part One) the clock is ticking to get all of these changes designed, coded and tested in advance of the February 2010 deadline. I’ve summarize the key content and formatting changes to each type of document below.
On August 20, 2009 the first provisions of the CARD Act go into effect. Beginning in February 2010, the CARD Act entails changes that impact what card issuers can charge, who they can charge and how and when those terms are disclosed. All of these companies are challenged to analyze, redesign and reprogram each of their marketing and customer communications over the next 6 months. Are you ready to help? Tick. Tick. Tick.