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Monday, Tuesday,
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Credit Card Act of 2009
The new Credit Card Accountability Responsibility and Disclosure Act applies to all open end lines of credit including the following products at Bethlehem Teachers Federal Credit Union:
The act requires that periodic statements be provided to members at least 21 days before the payment due date (or the end of a grace period) in order for the credit union to charge a late fee, report the account as delinquent to credit bureaus or impose a penalty. In order to comply with this new law, we find it necessary to change the due date on some of our loan accounts. Borrowers who are affected by any changes will be notified by letter. Should you have any questions or concerns about your line of credit and how this new law impacts you, please call us at 610-691-0041. |
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Copyright © 1999-2012 Bethlehem Teachers Federal Credit Union. |
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