15 U.S.C. § 1665e

Current through P.L. 118-106 (published on www.congress.gov on 10/04/2024)

Section 1665e - Consideration of ability to repay

A card issuer may not open any credit card account for any consumer under an open end consumer credit plan, or increase any credit limit applicable to such account, unless the card issuer considers the ability of the consumer to make the required payments under the terms of such account.

15 U.S.C. § 1665e

Pub. L. 90-321, title I, §150, as added Pub. L. 111-24, title I, §109(a), May 22, 2009, 123 Stat. 1743.

STATUTORY NOTES AND RELATED SUBSIDIARIES

EFFECTIVE DATESection effective 9 months after May 22, 2009, except as otherwise specifically provided, see section 3 of Pub. L. 111-24 set out as an Effective Date of 2009 Amendment note under section 1602 of this title.