A new piece of legislation proposed by Tennessee Senator Tim Burchett aims to change the way credit card companies tally payment dates. The goal is to have them record payment dates as the date a check was mailed, not the day that the check arrives at the company's payment processing center.
- "It is not right for credit card consumers to pay late fees if the payment is sitting on the desk of an employee of the credit card company or if it arrives late due to slow mail... Many Tennesseans have faced these charges, even though they made their payments on time.... Consumers should not have to pay for the mistakes of others when their efforts can be proved by a postmark."
http://blogs.knoxnews.com/knx/humphrey/2009/04/probusiness-committee-passes-p.html