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Protection of Young Consumers under the 2009 CARD Act


The CARD Act was designed to protect consumers from unfair lending practices and create more government oversight of credit card companies. In many ways, the bill was written in response to the credit and foreclosure crises that helped spark the 2008 recession.

The legislation contains a section entitled "Protection of Young Consumers." Among other things, credit card companies are forbidden from sending pre-approved credit card offers to people under age 21. If a "young consumer" wants a credit card, he or she must submit a written request for a credit card, along with the signature of someone over 21 who agrees to take joint responsibility for debt. The bill also creates limits on the marketing of credit cards in a college environment.

Some questions to think about are: What role should the government play in credit card practices? What are some of the responsibilities of having a credit card? Do "young consumers" need protection?

Source: U.S. Congress, "Title III: Protection of Young Consumers," Credit Card Accountability Responsibility and Disclosure Act, H.R. 627, Library of Congress, THOMAS (accessed July 2, 2009).

How to Cite This Source
U.S. Congress, "Protection of Young Consumers under the 2009 CARD Act," in Virginia Civics, Item #548, (accessed January 19, 2022).
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