AR HB2028

Amends Arkansas Code § 4-107-302 to add comprehensive definitions including "authorized user," "cardholder," "charges," "credit card," "credit card account," "credit card agreement," "credit card issuer," "creditor," "data," "financial institution," "interest," and "terms and conditions"

Establishes that cardholders accept credit card agreement terms through written/electronic signature or by using the credit card account if the credit card agreement provides that use constitutes acceptance and the required notice period has expired under 12 C.F.R. § 202.12(b)

Makes cardholders personally liable for all charges and interest incurred by named account members, co-applicants, or authorized users, but exempts cardholders from liability for charges resulting from fraudulent activity by others

Allows creditors to establish a presumption of correctness regarding account ownership and amounts owed by filing either a final billing statement or a compilation of data maintained in the regular course of business, which cardholders may dispute with credible evidence

Permits creditors to establish contracted interest rates by documenting cardholder acceptance of terms containing stated or variable rates, or by presenting any billing statement from the credit card issuer showing the interest rate