Be not afraid of change, for you must be notified in advance

It is a common claim that human nature favors consistency. We, as humans, do not like change. For those like me, who are compulsive planners, this is truer than for those who like to “go with the flow.” As sudden change is unavoidable, managing it becomes a necessary life skill. However, where information can be provided in advance, the sooner you get that information, the easier it is to plan accordingly. That way, you don’t end up surprised like this kid:

It appears the federal regulators also subscribe to “the sooner, the better” theory of life and a key consumer protection contained in several of the federal financial regulations is that consumers must get advance notice of certain changes. One of the many, many, many changes implemented by the CARD Act was expanding the types of changes that trigger advance notice for credit card accounts. I’ve blogged before on what some of these changes are, but, there are also a number of exceptions to the rule.


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