Starting today, Thursday August 20th, banks must start complying with part of the Credit Card Act of 2009. Some of the initial requirementsare that banks must mail monthly bills at least 21 days before payment is due on the card, and by providing at least 45 days notice before making any significant changes to interest rates or fees. In the past credit card companies were allowed to send bills out with as little as 14 days notice prior to the bill being due and only had to provide 15 days notice prior making changes in fees or interest rates. The…
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