The First Circuit Court of Appeals has affirmed the District Court of Massachusetts dismissal of a putative class action raising claims under the Truth in Lending Act (TILA) and Massachusetts unfair or deceptive trade practices law. In Shaner v. Chase Bank USA, NA, the named plaintiff (Shaner) claimed that, as a result of her own default, Chase twice increased her annual percentage rate (APR) at the beginning of the billing cycles without notice prior to the first date the APR was applied. The notice was on Shaner’s billing statement, was consistent with Chase’s credit card agreement with Shaner, and stated that “[t]he new APR and promotional rate expiration reflected on this statement is a result of a late payment on your account.”
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Recent Updates
- CFSL Action Update: March 15, 2012 – April 16, 2012
- CFPB Says Rescission Complete on Notice
- Court Permits Creditor to Charge and Collect Convenience or Expedited Payment Fees
- The Consumer Financial Protection Bureau Proposes Boundaries for its Nonbank Supervision of Debt Collection and Credit Reporting Organizations
- Second Circuit Panel Strikes Arbitration Agreement With Class Action Waiver