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Have the banking laws changed on credit cards ?
It was at one time that a bank could not become insurer, endorser or guarantor and could not extend or create credit...has that changed?
Credit cards have been chalenged in courts many times and because the banking laws did not allow a bank to extend its credit the card holder has won and had his debt wiped out and in some cases the courts would award additional money to the card holder because it was shown that the credit card agrrment was an illegal instrument.
2 Answers
- Anonymous1 decade agoFavorite Answer
what?? i don't understand what your saying