Status of charm flavor physics

The role of charm in testing the Standard Model description of quark mixing and CP violation through measurements of lifetimes, decay constants and semileptonic form factors is reviewed. Together with Lattice QCD, charm has the potential this decade to maximize the sensitivity of the entire flavor physics program to new physics. and pave the way for understanding physics beyond the Standard Model at the LHC in the coming decade. The status of indirect searches for physics beyond the Standard Model through charm mixing, CP-violation and rare decays is also reported.