The provisions of the new law and regulations on consumer credit are summarized in a regulatory alert issued by the NCUA.
Some of the changes, including rules requiring statements being mailed out at least 21 days before payment is due, take effect tomorrow while others take effect in stages through August 22, 2010.
The changes are provisions of the Credit CARD Act, which Congress passed and President Obama signed in May and also regulatory changes approved by the Federal Reserve.
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