H.R.1461: To amend the Consumer Credit Protection Act to ban abusive credit practices, enhance consumer disclosures, protect underage consumers, and for other purposes.

To amend the Consumer Credit Protection Act to ban abusive credit practices, enhance consumer disclosures, protect underage consumers, and for other purposes. 3/9/2007--Introduced. Credit Card Accountability Responsibility and Disclosure Act of 2007, or the Credit CARD Act of 2007 - Amends the Truth in Lending Act to require advance notice of any increase in the annual percentage rate (APR) of interest pertaining to a credit card account under an open end consumer credit plan. Imposes a freeze on interest rate terms and fees on canceled cards. Prohibits: (1) penalties for on-time payments; (2) fees for non-use of credit card; (3) over-the-limit fees for creditor-approved transactions; and (4) use by a credit card issuer of adverse information unrelated to a cardholder's account with that issuer in order to increase the APR under an open-end consumer credit plan. Requires disclosure of: (1) repayment information applicable to the outstanding balance; and [...]

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