High Court Seeks US' Input On Credit Card Rate Hikes

Law360, New York (January 25, 2010, 1:58 PM EST) -- The U.S. Supreme Court on Monday asked the U.S. solicitor general to weigh in on a class action accusing Chase Bank USA NA of failing to notify credit-card holders before raising interest rates over late payments or defaults.

In a list of orders, the Supreme Court invited Solicitor General Elena Kagan to file a brief in the case expressing the views of the federal government.

The plaintiffs in the case accuse Chase of violating the Truth in Lending Act by retroactively increasing interest rates on credit...
To view the full article, register now.