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it is currently illegal for banks to raise interest without a full authentic notification for the consumer under the dodd-frank act in 2013.

To do so would be very hard to near impossible. The only way a bank could raise interest would be a permanent change to all the consumers contract, on both interest rates and fee's.

The bank then could have a well hidden statement of the policy however, the consumer would know through any billing statement. By doing this would lose the bank a large amount of costumers.

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12y ago

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