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View Full Version : Soon, pay interest on debt only



NewsWhore
07-02-2009, 05:10 PM
New Superintendent of Banks Haivanjoe Ng Cortinas has announced that credit card holders should only have to pay interest on the daily average balance owed, and not the totality of the monthly debt as is the common practice now.
He said he would enforce the fulfillment of Superintendence of Banks Resolution 7-2001, as reported in Hoy.

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