Credit Card Act

Citi discards MasterCard cards at its own discretion, neglects customer damages

October 20, 2009 - 4:09am | News | Plastic cards

If you want to pay for gas filling at any gas-station like, Shell, Citgo, ExxonMobil and Phillips 66-Conoco cards, with Citibank issued MasterCard, don’t even try. You’ll fail as Citi "decided to close a limited number of oil partner co-branded MasterCard accounts" without warning and number of cardholders suffered from card rejection while paying.

However, Citi spokesman confirms as the close date was Wednesday, letters were sent out Monday to customers informing them of the change.

0 points

Federal Reserve Board approves interim final rule

July 16, 2009 - 9:01am | Law aspects | News

The Federal Reserve Board has approved an interim final rule amending the Truth in Lending Act (TILA) to require creditors to increase the amount of notice consumers receive before the rate on a credit card account is increased or a significant change is made to the account's terms. Besides, the Credit Card Act`s amendments to TILA allow consumers to reject such increases and changes by informing the creditor before the increase or change becomes effective.

account | Credit card | Credit Card Act | creditor | Federal Reserve Board

0 points

Did not find what you want? Try to search all ecommerce sites!

Custom Search