American Airlines 24-hour cancellation policy used to apply to flights booked at least two days before departure, but now only applies to flights at least 7 days before departure.
Per U.S. regulations, airlines need to allow cancelling a flight within 24 hours for a full refund as long as the flight is more than 7 days out. American Airlines has always had a more generous policy to give a full refund as long as the flight is two days out. However, they’ve now changed to the regular 7-day rule.
The change is only for cash bookings and in no way affects mileage bookings which can be cancelled up until the departure for a full refund, regardless of when it was booked.
Hat tip to VFTW

