What happens when a bank cannot produce a copy of their credit card agreement during a lawsuit for an unpaid account balance? Well, that was exactly the situation when CitiBank sued Teresa Cooper in the Superior Court of Vermont, and that case typifies the current status of credit card lawsuits nationwide. Banks cannot seem to
Minnesota Attorney General Lori Swanson has filed a lawsuit against a junk-debt buyer, Bradstreet & Associates, accusing that firm of charging an inflated interest of 22% on debts for overdrawn bank accounts that may only charge 6% interest under Minnesota law.
Companies have the right to collect legitimate debt. But they shouldn’t be charging peoeple