On February 22nd, the Federal Reserve Board published amendments to Regulation Z, which implements the Truth in Lending Act, and the staff commentary to the regulation in order to implement provisions of the Credit Card Accountability Responsibility and Disclosure Act of 2009. The amendments create a number of new substantive and disclosure requirements to promote fair and transparent practices pertaining to open-end consumer credit plans, including credit card accounts. In particular, the rule limits the application of increased rates to existing credit card balances, requires credit card issuers to consider a consumer's ability to make the required payments, establishes special requirements for extensions of credit to consumers who are under the age of 21, and limits the assessment of fees for exceeding the credit limit on a credit card account. The amendments are effective February 22, 2010. The Federal Reserve Board also withdrew Regulation Z amendments and staff commentary published on January 29, 2009, which have been revised and incorporated into the new amendments, and published amendments to Regulation AA to remove the substantive requirements in the January 2009 Regulation AA Rule, which have been superseded by the Credit Card Act.