9th Circ. Rules For Chase In Credit Card Interest Suit

Law360, New York (August 19, 2011, 10:22 PM EDT) -- Chase Manhattan Bank USA did not violate Delaware and federal consumer protection law when it retroactively raised interest rates on a class of credit card holders who had made late payments, the Ninth Circuit ruled Friday, reversing an earlier decision and bringing itself in line with other circuits.

In its March 2009 decision, the Ninth Circuit had initially accepted the plaintiffs' claims that Chase had violated Delaware and federal laws by retroactively increasing interest rates on their credit card balances from the beginning of their payment...
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