Where does the phrase “life is a highway” come from?
Just three months after President Obama signed into law the new Credit CARD Act of 2009, two important provisions take effect today. They are: * 45-day change in terms notice for changes to credit card agreements. Card issuers must provide at least 45 days notice of significant changes in terms of the account, such as increasing APRs, fee, balance computation methods, changing grace periods, etc. The cardholder must also get notice of their right to cancel the account. * Periodic statements must be sent to members at least 21 days in advance of the loan payment due date, in order to ensure members have enough time to make their payments on time. “These changes and others to come in 2010 will have a significant impact on the operations, policies, and procedures of all credit unions,” said John Kilduff, Association VP of Credit Union Services. “We strongly urge credit unions to work with their data processors and lending forms providers (including multi-featured open-end lending forms pr
