Credit Card Predatory Practices Prevention Act of 2001
Last action on Mar 26, 2001Referred to the Subcommittee on Financial Institutions an...
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Summary
Credit Card Predatory Practices Prevention Act of 2001 - Amends the Consumer Credit Protection Act to prohibit as unfair and deceptive specified creditor practices with respect to a credit card account under an open-end consumer credit plan, including practices involved in: (1) credit card solicitations; and (2) account administration.
Provides for notice to the consumer of failure to qualify for credit, and the reasons therefor.
Permits State authorities to bring an action to enjoin violations of this Act and enforce compliance.
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