Card Act: This is an abbreviated name for a federal statute enacted in 2009 during the Obama Administration addressing both credit cards and gift cards. When initially introduced, the Act focused upon credit cards. The act was extended to gift cards by Senator Schumer via the Schumer Amendment. This Act became effective in 2010. The Act is a consumer protection statute and, as such, is among the Consumer Protection Laws regulating Cards. The Act can be found at 15 USC 1601. The Act authorized the promulgation of implementing federal regulations on Cards resulting in the adoption of the federal Card Act Regulations in 2012.
