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By unanimous consent, the Senate last night approved a measure giving credit unions and other financial institutions more flexibility on providing notification to consumers about non-credit card accounts.

At issue was a provision of the Credit Accountability Responsibility and Disclosure Act, which took effect on Aug. 21, that required statements on open-end accounts be delivered 21 days before they are due. Some credit unions have said they are facing logistical and other obstacles that are making compliance difficult.


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