Although many of the credit card regulations passed by Congress in 2009 already apply by now, a few were delayed for some time. Several will finally take effect this Sunday. explains a few you might want to know about. Card issuers will now be required to:

  • Designate "reasonable and proportional" penalty fees to the omission or violation.
  • Periodically review all interest rate increases since January 2009 and reduce rates when a review indicates that a reduction is warranted.
  • Amend the Electronic Fund Transfer Act to limit dormancy, inactivity, and service fees associated with gift cards, according to the House Committee on Financial Services' web site.

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