Section text and notes
Limitation on increases within first year
section 1666i–1(b) of this titleExcept in the case of an increase described in paragraph (1), (2), (3), or (4) of , 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.
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, § 172Pub. L. 111–24, title I, § 101(d)123 Stat. 1738 Pub. L. 111–203, title X, § 1100A(2)124 Stat. 2107 (, as added , , ; amended , , .)
Editorial Notes
Amendments
Pub. L. 111–2032010—Subsec. (b). substituted “Bureau” for “Board” in two places.
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 .