((a)) ** In general** If a creditor increases the annual percentage rate applicable to a credit card account under an open end consumer credit plan, based on factors including the credit risk of the obligor, market conditions, or other factors, the creditor 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 account under an open end consumer credit plan, the creditor shall—

((1)) maintain reasonable methodologies for assessing the factors described in subsection (a);

((2)) not less frequently than once every 6 months, review accounts as to which the annual percentage rate has been increased since , 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 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  shall issue final rules not later than 9 months after , to implement the requirements of and evaluate compliance with this section, and subsections (a), (b), and (c) shall become effective 15 months after .1May 22, 20092009-05-22May 22, 20092009-05-22