1st Circ. Deals Consumers Blow Over Credit Card Hikes

Law360, New York (November 30, 2009, 1:29 PM EST) -- The U.S. Court of Appeals for the First Circuit has affirmed the dismissal of a proposed class action that challenged Chase Bank USA NA's procedures for raising credit card interest rates when consumers make late payments, ruling that the bank's actions were allowed by Federal Reserve Board regulations.

In an opinion issued Wednesday the appeals court found that the U.S. District Court for the District of Massachusetts was correct to dismiss the suit filed by consumer Jessica Shaner, who alleged that Chase violated the Truth in...
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