New laws require credit card firms to spell it out for consumers

01/31/2010 | Financial Times (tiered subscription model)

Starting with this month's statements, credit card issuers will be required to inform card holders how long it would take them to repay their balance if they make only the minimum payment each month. The statements also will include the amount of fees and interest paid year to date and how much would need to be paid to eliminate the balance in 36 months.

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