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Posted: 11:36 AM Dec 18, 2008
New Rules Limit When Credit Card Companies Can Make Interest Rate Changes
Federal regulators adopted new rules to limit when credit card companies can make changes to interest rates.
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Federal regulators adopted new rules to limit when credit card companies can make changes to interest rates.
The changes require credit card companies to give 45 days notice before any changes are made to the terms of accounts. Current rules show that companies can give as little as 15 days notice. The new rules are scheduled to take effect in July of 2010.
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