Macy's Credit Lender Sued Over Inaccurate Bills

Law360, New York (June 28, 2012, 12:34 PM EDT) -- The bank that handles Macy's Inc.'s American Express credit cards was hit Monday with a putative class action alleging the company failed to provide cardholders with accurate estimates of how long it would take to pay off their balances.

The proposed class of cardholders, led by New York City resident Marcy Zevon, said that Department Stores National Bank — which services Macy's AmEx cards, according to the complaint — did not comply with the disclosure requirements of the Truth in Lending Act.

The suit said that...
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