We are an ITI bank that obviously flipped our ready reserve product and HELOCs to comply with the 21-day billing deal. It has not been too pretty, especially for the HELOCs, clearly there has been some confusion for customers.....most of them miss the "old way".
We are leaning towards flipping back the ready reserve product to where their payment would be due the day after their statement cycles (like it was previously). As far as the HELOCs I'm not sure we want to flip them back because I thought I saw a comment on a BOL thread (that I can't locate now) where someone stated that they were not going to switch their HELOCs back because there was something in a current HELOC proposal that might require the 21-day notice. I cannot locate what he was referring to. I don't want to reverse back if, in another year we have to go back to giving the 21-day period. How nutty will that look to customers? It is already going to be bad enough flipping them back now if we chose to do that....although we will be blaming the government if we decide to move them back!

Does anyone know what specific HELOC/open-end credit proposal the individual was referring to as to why he was hesitant to flip HELOCs back at this time?

All response welcome.

Bump