Supreme Court rules for credit card company on notice issue

[JURIST] The US Supreme Court [official website] ruled [opinion, PDF] unanimously Monday in Chase Bank v. McCoy [Cornell LII backgrounder; JURIST report] that Chase was not required to provide a cardholder with a change-in-terms notice before raising the interest rate on his credit card. The case required the court to determine whether an interest rate increase constituted a "change in terms" under Regulation Z, 12 CFR 226.9(c) [text], which requires that a creditor provide a cardholder with a change-in-terms…

By |2017-10-19T15:43:50+00:00October 19th, 2017|Uncategorized|Comments Off on Supreme Court rules for credit card company on notice issue