The Credit Card Accountability Responsibility and Disclosure Act of 2009 was signed last May by President Barack Obama.
LThe Federal Reserve Board (FRB) has launched a website that covers some of the key changes of the new credit card rules that will go into effect on February 22. that includes a 45-day advance notification for interest rate increases.
Some of the front-side changes slated for February 22 build in:
blown payment penalty and minimum payment warnings included with monthly billing statements.
No interest rate increases within the first year of a credit card detail (with a few exceptions).
An opt-in requirement to be able to process concluded-the-limit transactions and to charge an bygone-the-limit fee.
investigation out the Federal Reserve Board’s What You do outwardly to have: New Credit Card Rules.
More on the New Credit Card Rules:
10 Key Changes of the New Credit Card Rules
Detailed talking of the the Credit CARD Act
6 statements the New Credit Card Law Doesn’t Cover
Federal Reserve Board Launches tract Explaining New Credit Card Rules originally exposed on About.com Credit / arrearage Management on Wednesday, January 27th, 2010 at 18:47:43.
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Some of the rules went into effect last October.
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This post was written by admin on January 31, 2010
