The Credit Card Accountability, Responsibility and Disclosure Act of 2009 allows credit card issuers to raise interest rates when a borrower is more than 45 days late in making required payments.
Answer the following statement true (T) or false (F)
False
The Credit Card Accountability, Responsibility and Disclosure Act of 2009 (often called the CARD Act) requires issuers to give a 45-day notice before making significant changes to credit agreements and prohibits them from raising interest rates on existing balances unless the borrower is more than 60 days late in making required payments. See A-3: Your Credit: Handle with Care!
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Answer the following statement true (T) or false (F)
At the beginning of January of the current year, Sorrel Co.'s ledger reflected a normal balance of $72,000 for accounts receivable. During January, the company collected $18,800 from customers on account and provided additional services to customers on account totaling $14,500. Additionally, during January one customer paid Mikey $7000 for services to be provided in the future. At the end of January, the balance in the accounts receivable account should be:
A. $69,300. B. $74,700. C. $76,300. D. $4300. E. $67,700.
A ______ has a small number of members, with shared leadership, who perform independent jobs with individual and group accountability, evaluation, and rewards.
a. department b. team c. group d. committee
The proposed deal structure should—
a. omit the possibility of selling interest in the company after a period of time. b. refer to the capital structure outlined in the pro forma financial statements. c. state clearly what the business plan writerasks of lenders and investors. d. describe the deal in terms of its benefits to the entrepreneur. e. all of the above(a-d).