Financial institutions of all types are facing regulatory changes on a scale not seen in decades. These changes touch upon everything from mortgage lending to soliciting college students for credit cards.

One of the more significant legislative changes is set forth in the Credit Card Accountability Responsibility and Disclosure Act of 2009, which substantially amends the federal Truth-in-Lending Act. Under this new law, creditors opening credit card accounts for consumers are now required to consider the ability of the consumer to make the required payments under the account.

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