15-U.S.C.-1666I-2

§1666I-2 – §1666I-2. Additional Limits On Interest Rate Increases

Pathway

Title 15 > Chapter 41 > Subchapter I > Part D > Section 1666i-2

Details

• Reference: Section 1666i-2
• Legend: §1666I-2 – §1666I-2. Additional Limits On Interest Rate Increases
• USCode Year: 2013

Provision Content

(a) Limitation on increases within first year

Except in the case of an increase described in paragraph (1), (2), (3), or (4) of section 1666i–1(b) of this title, no increase in any annual percentage rate, fee, or finance charge on any credit card account under an open end consumer credit plan shall be effective before the end of the 1-year period beginning on the date on which the account is opened.

(b) Promotional rate minimum term

No increase in any annual percentage rate applicable to a credit card account under an open end consumer credit plan that is a promotional rate (as that term is defined by the Bureau) shall be effective before the end of the 6-month period beginning on the date on which the promotional rate takes effect, subject to such reasonable exceptions as the Bureau may establish, by rule.

(Pub. L. 90–321, title I, §172, as added Pub. L. 111–24, title I, §101(d), May 22, 2009, 123 Stat. 1738; amended Pub. L. 111–203, title X, §1100A(2), July 21, 2010, 124 Stat. 2107.)

Amendments

2010—Subsec. (b). Pub. L. 111–203 substituted Bureau for Board in two places.

Effective Date of 2010 Amendment

Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.

Effective Date

Section 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.

U.S. Encyclopedia of Law Coverage

15-U.S.C.-1666I in the Legal Encyclopedia: Trade Law

In this entry about 15-U.S.C.-1666I, find legal reference material, bibliographies and premiere content related to trade law in the American Encyclopedia of Law, presenting a comprehensive view of the United States trade law-specific issues, written by authorities in the field.

15-U.S.C.-1665E in the Legal Encyclopedia: Consumer Credit Protection

In this entry about 15-U.S.C.-1665E, find legal reference material, bibliographies and premiere content related to consumer credit protection in the American Encyclopedia of Law, presenting a comprehensive view of the United States consumer credit protection-specific issues, written by authorities in the field.

Topic Map

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