Question: Which of the following is not a mandated adjustment of a credit practice required by the Credit Card Holders' Bill of Rights Act (CARD Act)? Multiple choice question. Late fees must be waived on the first occurrence of a violation of the credit card agreement. The limits of fees and interest rates of all credit companies are strictly regulated by the FTC to avoid unfairly high maximums. Creditors are required to notify consumers of changes to fees and interest rates before such changes take place. Penalty fees such as late fees and over-the-limit fees must have reasonable maximums.