§1665e. Consideration of ability to repay
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Latest NOW As originally enacted May 22, 200915 U.S.C. § 1665e
A card issuer may not open any credit cardaccount 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.
Notes, amendments, and revision history
(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 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.