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To do this, many or all of the products featured here are from our partners. Our opinions are our own.“‘Someday,’ he predicted, ‘restaurants all over New York will honor this card,’” former Diners Club executive Matty Simmons recalled Mc Namara telling him early on.
Some quoted monthly interest rates, while others used annual rates. In 1968, the Truth in Lending Act — part of the Consumer Credit Protection Act — standardized methods of calculating annual percentage rates, or APRs.In time, these organizations evolved into two nationwide networks.