Credit Card Landscape Update

Some insights are provided as to how the supply and demand sides for these products are operating after this major economic disruption and the enactment of two pieces of legislation affecting payment cards. The Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act) and the Durbin Amendment, which went into effect in 2010 and 2011, respectively, had implications for the market for payment cards used by consumers and small businesses. Commercial cards used by corporations and government were not affected by these regulations, but there have still been major developments in that product line. Readers will get a glimpse of some of the innovations occurring in commercial cards.