WSJ says “Card issuers novel ways to outflank law”
Our good friends Chase made the news again today in an article in the Wall Street Journal on the creative ways credit card issuers are finding to skirt the Credit Card Reform Act of 2009.
Chase in particular is highlighted for their use raising of minimum payments as leverage to force people with very low locked-in promotional rates (like from a balance transfer promotion) to agree to higher interest rates.
Bad bad Chase, Fees & charges, Legal & regulatory | admin June 3, 2010
