Yeomalakis v. Federal Deposit Insurance

BOUDIN, Circuit Judge.

James Yeomalakis, a resident of Massachusetts, has or had a credit card account with Washington Mutual Bank 1 , which was a federally chartered savings association with its principal place of business in Nevada. Credit card holders customarily pay an interest charge on unpaid balances. Washington Mutual increases the applicable annual percentage interest rate (“APR”) for cardholders who default on one of the obligations created under their account agreement (for example by making a required payment late).

Washington Mutual, assertedly in line with industry custom,…