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Credit CARD Act – Gift Cards (August 22, 2010)• Applies generally to open-loop and closed loopprepaid/gift cards, with certain exceptions• Prohibits dormancy/inactivity/service fees except wherecard has been inactive for at least 12 months• Prohibits expiration dates of less than 5 years after laterof issuance or last load• No preemption of more restrictive state lawsCopyright © 2010 Alston+Bird LLP. Proprietary and Confidential. All rights reserved.14ALSTON+BIRD LLP
About the Credit Card Terms Tracking Study• This study tracks and documents credit card pricing and terms across the portfolios of thelargest card issuers in the U.S.• The analysis focuses particularly on recent or forthcoming changes to credit card termsimpacting APRs, fees, grace periods, and allocation of payments.• The changes in terms details provided in this report are collected through a nationwideLightspeed survey of approximately 10,000 credit card holders each month.• The terms documentation is based on copies of actual change in terms notificationsmailed by issuers to U.S. consumers.• Supplemental data on major issuers' pricing and grace periods are drawn fromLightspeed's behavioral tracking panel, a nationally-representative sample of cardholdersfrom whom we electronically capture credit card and debit card statement details on anongoing basis.• All information about terms and changes in this report is based on best-available datafrom our database of terms and changes in terms notifications. The terms changenotifications received from cardholders and reported here may not reflect all changesannounced by issuers or all products within an issuers' portfolio.Copyright © 2010 Lightspeed Research. Proprietary and Confidential. All rights reserved. 15
Page 1: Credit Card Issuers' Responses toU.
Page 4: Credit CARD Act - Consumer Protecti
Page 7 and 8: Credit CARD Act - Consumer Protecti
Page 9 and 10: Credit CARD Act - Consumer Protecti
Page 11 and 12: Credit CARD Act - Enhanced Consumer
Page 13: Credit CARD Act - Protection of You
Page 17 and 18: Recent Highlights• In the weeks l
Page 19 and 20: Cardholders Receiving Changes in Te
Page 23 and 24: Comparison of Balance Transfer (and
Page 25 and 26: Specific Examples: Bank of America
Page 27 and 28: Specific Examples: Chase Changes in
Page 29 and 30: Specific Examples: Citi Special Off
Page 31 and 32: Specific Examples: New Easy-to-Unde
Page 33 and 34: New Card and Existing Account Offer
Page 35 and 36: Pricing / Duration Competitive Summ
Page 37 and 38: Promotional Rate Examples (Continue
Page 39 and 40: Debit Card OverdraftsCredit cards a
Page 41 and 42: Appendix Slides: Competitive Summar
Page 43 and 44: Appendix: Competitive Summary -- Pa
Page 45 and 46: Appendix: Competitive Summary -- Tr

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