Criminal bank service charges?
Appeals court certifies class action against MBNA Canada Bank
May 12th, 2007
Do high service charges exacted by MBNA for credit card cash advances constitute a criminal rate of interest? This is among the issues certified as a class action by the Ontario Court of Appeal in Markson v. MBNA Canada Bank. The court held that the bank could not rely on its failure to keep data to escape certification. [more] Full article