Tag Archives: Credit Cards

New York Bill Gives Credit Card Holders 90 Days to Redeem Rewards

The New York Senate recently passed a bill that is expected to give New York residents a 90-day grace period to redeem credit card rewards after their account is changed, canceled, closed, or terminated. The bill will address issues where a cardholder’s account is closed without notice for inactivity, default, or delinquency – in such … Continue Reading

California Supreme Court Halts ZIP Code Collection

Reed Smith colleagues on our Global Regulatory Enforcement Law Blog discussed a recent California Supreme Court ruling that declared illegal the collection of an individual’s ZIP code when completing a credit card transaction. As a result, the ability of many retailers to generate in-store marketing leads becomes even more difficult. We encourage you to visit … Continue Reading

How Much Are You Worth?

As many of our readers are likely aware, the Credit Card Accountability, Responsibility and Disclosure Act (the “CARD Act”) largely becomes effective in just a few days – February 22, 2010. The CARD Act was signed into law in May 2009 to establish new regulations, standards and disclosure requirements for open-end consumer credit plans. In addition to … Continue Reading

Banking on the Banks

As the Federal Trade Commission continues to step up its efforts to police deceptive advertising across industries and product categories alike, other governmental divisions are following suit. The FDIC, for example, has turned its attention to financial institutions alleged to be engaging in deceptive practices related to credit card solicitations and credit card rate increases—the first … Continue Reading
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