A more thorough explanation:

The Credit CARD Act of 2009 is a law that was passed to protect consumers from unfair practices by credit card companies. The law requires credit card companies to be more transparent about their fees and interest rates, and to give consumers more time to pay their bills.

For example, before the Credit CARD Act, credit card companies could raise interest rates on existing balances without warning. Now, they must give consumers 45 days' notice before raising rates. The law also limits the fees that credit card companies can charge, such as late fees and over-limit fees.

The Credit CARD Act has helped to make credit card companies more accountable to their customers and has given consumers more control over their credit card debt.