Legal Opinion
Swanson v. Bank of America, N.A.
Court of Appeals for the Seventh Circuit
Decided March 19, 2009No. 08-3322PublishedCited by 6 opinions
1Opinion of the Court
EASTERBROOK, Chief Judge.
When Bank of America extended credit to Laura Swanson, it told her that, if excessive purchases caused her balance to exceed the $5,000 credit limit at the end of two months in any rolling 12-month period, it could increase her interest rate from 18% to 32% per annum. Later the Bank sent Swanson a notice amending the terms to provide that the higher, penalty interest rate would take effect at the beginning of the billing cycle to which it applied. Swanson agreed to these terms by continuing to use her credit card.
Swanson’s account was over her credit limit at the…
2Cases cited8 opinions
- Beneficial National Bank v. AndersonSupreme Court of the United States · 2003
- Ford Motor Credit Co. v. MilhollinSupreme Court of the United States · 1980
- Marquette National Bank of Minneapolis v. First of Omaha Service Corp.Supreme Court of the United States · 1978
- Lanier v. Associates Finance, Inc.Illinois Supreme Court · 1986
- Wisconsin Electric Power Co. v. Union Pacific RailroadCourt of Appeals for the Seventh Circuit · 2009
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3Cited by6 opinions
- Chase Bank USA, N. A. v. McCoySupreme Court of the United States · 2011
- Estate of Dorothy Da v. Wells FargoCourt of Appeals for the Seventh Circuit · 2011
- Shaner v. Chase Bank USA, N.A.Court of Appeals for the First Circuit · 2009
- Chase Bank USA, N. A. v. McCoySupreme Court of the United States · 2011
- Chase Bank USA, N. A. v. McCoySupreme Court of the United States · 2011
1 more not listed; retrieve them via the Exa API.