Chase Bank USA v. McCoy

Supreme Court decision upholding rate increases on credit cards

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The Supreme Court today unanimously reversed the Ninth Circuit, holding that credit card holders were not entitled to additioal notice of interest-rate increases. The case in part turned on the meaning of Federal Reserve Board regulations. Jutice Sotomayor, writing for the Court, stated that the the Reserve Board's own interpretation of its regulations--as set forth in its amicus brief in the case--was entitled to judicial deference.

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Reference Info:Decision | Federal, U.S. Supreme Court | United States


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Nancie G. Marzulla, Marzulla Law, LLC | Attorney Advertising

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