Credit Card Act

The act governs the formation and operation of credit card banks, setting out the terms on which such an institution may be established or acquired and the standards it must meet. It establishes an approval process built around an application and filing fee, addresses the charges, rates, and fees these institutions may impose, and identifies the law applicable to their operations. It also provides for ongoing supervision and enforcement, and specifies how its provisions relate to other state laws, superseding those that conflict.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.