Credit Card Defense
Tampa Credit Card Defense Attorneys
The attorneys of McIntyre Thanasides Bringgold Elliott Grimaldi & Guito, P.A. , defend clients who are being sued by credit card companies for nonpayment of their debts. In examining these cases, we often find that credit card companies fail to live up to their obligations as lenders.
Representing Victims of Predatory Lending Practices
Every year, consumers are victimized by unfair or deceptive practices by credit card companies. The abuses became so severe in recent years that the Federal Trade Commission (FTC) developed new regulations that prohibit many of the standard lending practices that credit card companies have employed for years.
The FTC now prohibits credit card companies from engaging in two-cycle billing, for example. This practice resulted in consumers being charged interest twice on their balance during the same month, unreasonably inflating the money owed to the credit card company.
The Federal Reserve has also been involved in the movement to protect consumers. It issued a truth in lending regulation called Regulation Z, which, among other things:
- Limits application of increased rates on existing credit card balances
- Requires card issuers to consider the consumer’s ability to make the required payments
- Establishes special requirements for extending credit to people under age 21
- Limits fees for exceeding a credit card limit