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In a major victory for banks, a federal judge in Pennsylvania ruled credit card holders cannot sue under the Truth in Lending Act over an alleged "bait and switch" in which they were promised a card with no annual fee only to learn later that a fee was being imposed. The ruling says the Act requires only that banks disclose the terms that will apply to card holders on the day they receive the card.
January 03, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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