US Code

Public Law 119-83 (04/13/2026)

15 U.S.C. § 1665c

Interest rate reduction on open end consumer credit plans

(a)

In general

If a creditor increases the annual percentage rate applicable to a credit card account under an open end consumer credit plan, based on factors including the credit risk of the obligor, market conditions, or other factors, the creditor shall consider changes in such factors in subsequently determining whether to reduce the annual percentage rate for such obligor.

(b)

Requirements

With respect to any credit card account under an open end consumer credit plan, the creditor shall—
(1)
maintain reasonable methodologies for assessing the factors described in subsection (a);
(2)
not less frequently than once every 6 months, review accounts as to which the annual percentage rate has been increased since , to assess whether such factors have changed (including whether any risk has declined);
(3)
reduce the annual percentage rate previously increased when a reduction is indicated by the review; and
(4)
section 1637(i) of this title in the event of an increase in the annual percentage rate, provide in the written notice required under a statement of the reasons for the increase.
(c)

Rule of construction

This section shall not be construed to require a reduction in any specific amount.

(d)

Rulemaking

1

1 So in original. Probably should be “Board”.
The Bureau  shall issue final rules not later than 9 months after , to implement the requirements of and evaluate compliance with this section, and subsections (a), (b), and (c) shall become effective 15 months after .

Pub. L. 90–321, title I, § 148Pub. L. 111–24, title I, § 101(c)123 Stat. 1737 Pub. L. 111–203, title X, § 1100A(2)124 Stat. 2107 (, as added , , ; amended , , .)

Editorial Notes

Amendments

Pub. L. 111–2032010—Subsec. (d). substituted “Bureau” for “Board”.

Statutory Notes and Related Subsidiaries

Effective Date of 2010 Amendment

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

Effective Date

section 3 of Pub. L. 111–24section 1602 of this titleSection effective 9 months after , except as otherwise specifically provided, see , set out as an Effective Date of 2009 Amendment note under .