The Credit Card Accountability Responsibility and Disclosure Act of 2009 (also known as the Credit CARD Act of 2009) is a federal statute that was enacted by the 111th Congress and signed into law by President Obama on May 22, 2009, to amend...
financial services
Credit CARD Act
The Credit CARD Act of 2009 is the short name for the Credit Card Accountability Responsibility and Disclosure Act of 2009. See the Wex page Credit Card Accountability Responsibility and Disclosure Act of 2009 for more information.
...credit card fraud
Credit card fraud is a form of identity theft that involves an unauthorized taking of another’s credit card information for the purpose of charging purchases to the account or removing funds from it. Federal law, by way of 15 U.S.C. §1643,...
credit counseling
Credit counseling is a professional service, usually provided by a credit counseling agency, that provides consumers with guidance about credit, the repayment of debt outside of bankruptcy, financial management, and budgeting. Certified...
credit default swap
A credit default swap (CDS) is a type of derivative contract in which two parties exchange the risk that some credit instrument will go into default. The buyer of a CDS agrees to make periodic payments to the seller. In exchange, the seller...
credit facility
Credit facilities are a type of pre-approved loan which allows the borrower to borrow money on an ongoing basis over an extended period of time, rather than applying for a new loan each time the borrower needs more money. The borrower can...
credit file
A credit file is a collection of data about an individual’s borrowing and repayment activity.
The information in an individual’s credit file determines their credit score, and their credit score is analyzed by financial...
credit instrument
A credit instrument is a promissory note or other written evidence of a debt. Common examples include bonds, loans, checks, or invoices.
Credit instruments are used by governments, companies, and individuals alike.
...credit insurance
Credit insurance is a policy of insurance purchased by a borrower to protect their lender from loss that may result from the borrower’s insolvency, disability, death, or unemployment. When a borrower who has credit insurance becomes insolvent...
credit report
A credit report is a detailed written account of a consumer’s credit history, as prepared by a credit bureau – using financial information collected from creditors. This information includes a consumer’s identifying information (current and...