Credit Card Act Of 2009: What You Need Know

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Credit Card Act Of 2009: What You Need Know

Denise 0 31 07.10 19:27
On March 15, 2010, FED posted proposed modifications for the CARD Act. These modifications will be effective in August 2010. We need your input. Our blog contains a short summary. If you enjoy reading regulatory documents, the relevant section from Federal Register can be downloaded as a pdf. Enjoy your reading.

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Financial companies love flexibility and quick movement. Regulation is the equivalent of a dog being tied to a leash. No matter how much the dog wants to go sniff the skunk, he can't get off the leash to do it. Most people would agree that this is a good thing. There is only one problem. It might actually work.

How long has the company existed? There has been a surge in the number of companies, particularly from abroad, looking for ways to make money from your loan. There has also been an increase in illegal practices form those imposing s lenders. You can learn more about the past of the lender to see if they are an up and coming company.

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It's the same as accepting that you must have insurance on your home. Although it is not something that anyone wants to do, losing your house to a storm, flood, fire, or other type of damage, even though it may never happen, could be a financial disaster.

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