Yesterday, the House voted to move up the implementation of CARD Act regulations to December 1, 2009. This bill will be moved to the Senate for another vote, however, the Senate has a busy schedule over the coming weeks and Senator Dodd has his own version of the bill that may join the mix to be voted on. So it’s anyone’s guess if this will be resolved in such a tight time frame.

If February 22, 2010 Credit CARD Act requirements are pushed forward to December 1, 2009, issuers planning to implement credit card terms that are not compliant with the act may cancel these updates and immediately implement changes that had been prepared for the initial deadline. We may see this in the form of another decrease or volume stagnation among acquisition offers over the next few months.

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