U.S.C. Title 15 - COMMERCE AND TRADE 15 U.S.C. United States Code, 2023 Edition Title 15 - COMMERCE AND TRADE CHAPTER 41 - CONSUMER CREDIT PROTECTION SUBCHAPTER I - CONSUMER CREDIT COST DISCLOSURE Part C - Credit Advertising and Limits on Credit Card Fees Sec. 1665e - Consideration of ability to repay From the U.S. Government Publishing Office, www.gpo.gov
§1665e. Consideration of ability to repay
A card issuer may not open any credit card account for any consumer under an open end consumer credit plan, or increase any credit limit applicable to such account, unless the card issuer considers the ability of the consumer to make the required payments under the terms of such account.
(Pub. L. 90–321, title I, §150, as added Pub. L. 111–24, title I, §109(a), May 22, 2009, 123 Stat. 1743.)
Statutory Notes and Related Subsidiaries
Effective Date Section effective 9 months after May 22, 2009, except as otherwise specifically provided, see section 3 of Pub. L. 111–24, set out as an Effective Date of 2009 Amendment note under section 1602 of this title.