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AGO Opinions with Topic: REGULATION OF BANK CREDIT CARD TRANSACTIONS
AGO 1968 No. 6 >  February 8, 1968
BANKS AND BANKING - SALE - REGULATION OF BANK CREDIT CARD TRANSACTIONS
BANKS AND BANKING - SALE - REGULATION OF BANK CREDIT CARD TRANSACTIONS Where the holder of a bank credit card (e.g., Firstbank card or BankAmericard) uses this credit card to purchase goods or service from a participating vendor, the transaction is governed by the regulatory provisions of the retail installment sales act pertaining to maximum service charges, collection of delinquency charges, information to be provided by sellers, etc., which apply to all transactions made under a "retail charge agreement" as defined therein.
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