---
kind: "section"
citation: "15 U.S.C. § 1665c"
title: "15"
title_heading: "Commerce and Trade"
number: "1665c"
heading: "Interest rate reduction on open end consumer credit plans"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/15/1665c"
units:
  - "Chapter 41 — Consumer Credit Protection"
  - "Subchapter I — Consumer Credit Cost Disclosure"
  - "Part C — Credit Advertising and Limits on Credit Card Fees"
---

# §1665c. Interest rate reduction on open end consumer credit plans

- (a) **In general—** If a [creditor](/usc/15/1602.md?p=g) increases the annual percentage rate applicable to a [credit card](/usc/15/1602.md?p=l) [account](/usc/15/1681a.md?p=r-4) under an [open end consumer credit plan](/usc/15/1602.md?p=j), based on factors including the [credit](/usc/15/1602.md?p=f) risk of the obligor, market conditions, or other factors, the [creditor](/usc/15/1602.md?p=g) shall consider changes in such factors in subsequently determining whether to reduce the annual percentage rate for such obligor.
- (b) **Requirements—** With respect to any [credit card](/usc/15/1602.md?p=l) [account](/usc/15/1681a.md?p=r-4) under an [open end consumer credit plan](/usc/15/1602.md?p=j), the [creditor](/usc/15/1602.md?p=g) shall—
  - (1) maintain reasonable methodologies for assessing the factors described in [subsection (a)](#a);
  - (2) not less frequently than once every 6 months, review [accounts](/usc/15/1681a.md?p=r-4) as to which the annual percentage rate has been increased since January 1, 2009, to assess whether such factors have changed (including whether any risk has declined);
  - (3) reduce the annual percentage rate previously increased when a reduction is indicated by the review; and
  - (4) in the event of an increase in the annual percentage rate, provide in the written notice required under [section 1637(i) of this title](/usc/15/1637.md?p=i) a statement of the reasons for the increase.
- (c) **Rule of construction—** This section shall not be construed to require a reduction in any specific amount.
- (d) **Rulemaking—** The [Bureau](/usc/15/1602.md?p=b)[^1] shall issue final rules not later than 9 months after May 22, 2009, to implement the requirements of and evaluate compliance with this section, and subsections [(a)](#a), [(b)](#b), and [(c)](#c) shall become effective 15 months after May 22, 2009.

## Footnotes

[^1]: So in original. Probably should be “Board”.

## Source credit

(Pub. L. 90–321, title I, § 148, as added Pub. L. 111–24, title I, § 101(c), May 22, 2009, 123 Stat. 1737; amended Pub. L. 111–203, title X, § 1100A(2), July 21, 2010, 124 Stat. 2107.)

## Notes

### Editorial Notes

### Amendments

2010—Subsec. (d). Pub. L. 111–203 substituted “Bureau” for “Board”.

### Statutory Notes and Related Subsidiaries

### Effective Date of 2010 Amendment

Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.

### Effective Date

Section effective 9 months after May 22, 2009, except as otherwise specifically provided, see section 3 of Pub. L. 111–24, set out as an Effective Date of 2009 Amendment note under section 1602 of this title.