BofA to offer credit card protections to small businesses

04/2/2010 |

Bank of America has announced that it will extend the protections that consumers enjoy regarding credit card protections to its small-business clients. The protections include an agreement to keep interest rates stable on existing balances, relief from over-credit-limit fees and a vow to apply payments to charges with the highest interest rates. The Credit Card Accountability, Responsibility, and Disclosure Act mandated those changes for consumers, but it did not cover small businesses.

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