Last May, the Credit Card Accountability Responsibility and Disclosure (CARD) Act 2009 became law. The CARD Act protects consumers by mandating clear, transparent and easy to understand terms and conditions for all credit cards. Provisions will phase in through August 2010.

	August 20, 2009: Payment notices and change in terms requirements
	February 22, 2010: APR, fee and finance charge changes, payment requirements and disclosure and term changes.
	August 22, 2010: Rate change notice and explanation requirements (details coming soon)

We’re here for you
Your financial well-being is our top priority and we’re here to help you understand how the CARD Act affects your credit cards and loans. We’ve put together some information that outlines how the Act’s provisions affect all financial institutions and your First Tech loans.

The provisions are a work in progress. The Federal Reserve is currently detailing how financial institutions should implement rate change notice and explanation changes by August 22, 2010. We’ll continue to add details as they become available.

If you have any questions, please give us a call at 800.637.0852.