Amex Lawsuit in the Works, Most People Should Be Eligible
Did you have an American Express credit card in May, June, or July of 2016? That was a rhetorical question I guess because most readers should have had at least one. If you did, then may have a legal claim under the Truth in Lending Act and be entitled to statutory money damages. The Truth in Lending Act regulates the disclosure of credit card terms.
Top Class Actions reports that American Express may have violated the terms of the federal Truth in Lending Act during the months of May, June, and July of 2016 in that the Annual Percentage Rate information disclosed in billing statements was incomplete.
TILA includes a set of laws for credit card issuers covering business practices they must follow and disclosures that they must make, such as:
- The Annual Percentage Rate (APR) for purchases (as well as for cash advances and for balance transfers, if they are also available features);
- The penalty APR that may be applied, and the conditions under which such penalty may be triggered;
- The interest-free period for purchases and any other feature before finance charges begin to accrue;
- The annual fee for keeping the account open;
- Transaction charges for cash advances, balance transfers, and foreign transactions;
- Any late fees for not making the payment by the due date.
A class action lawsuit is just being explored for now and nothing has been filed yet. We’ll let you know when that does happen as it should involved many people.
 Chase Sapphire Preferred® Card
Chase Sapphire Preferred® Card is the old king of travel rewards cards. Right now
bonus_miles_full
Learn more about this card and its features!
Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Hi there ,
I just sent the statements for May,June and July 2016 for 5 Amex cards I ad at that time.
2 personal and 3 business ,
Someone know if participating in this lawsuit can stop is from getting new amex cards or even problems with the existing ones.
Thanks
I should say , They have been sent to the lawyers for evaluation.
Actually, because of language about class action in most contracts (and I believe Amex has that language), individual lawsuits are the way to go.
I have one in the works for the two cards I had in those months. Dang. Would be a nice payday if it were all 6.
Also, Jason Smith, who are you, really? Your comments seem trolling to me.
I’m just someone who doesn’t believe the american Dream is filing a lawsuit every 10 seconds. These frivolous lawsuits end up costing everyone.
I can’t imagine anyone getting any huge amount, except for the people who actually paid the APR and overpaid.
Can we please join as a party for each AMEX card we had, including each authorized user, and increase our court award? Most of us are not fond of vermin so rather than aim at the AMEX RAT with a singe shot rifle, we would rather spray it with a machine gun. RAT-A-TAT-TAT for the AMEX RAT!
They should add another lawsuit from stopping us from buying Gift Cards 🙂
No one is stopping you from buying gift cards. They just aren’t giving you points for it, which they have every right to do. No one is forcing you to use their credit card, there are pkenty of others out there.
Yes of course but if I make a GC purchase they should give points. Im sure AMEX is still earning a swipe fee from GC purchases. If you purchase a $500 GC or $500 of groceries I’m sure AMEX is earning $$ from both purchases therefore they should pay us the points we deserve.
Quit crying over it laready……have an issue here’s a tissue.