Posted on 06/29/2002 9:36:09 AM PDT by John Jorsett
Edited on 04/13/2004 3:29:31 AM PDT by Jim Robinson. [history]
A federal judge temporarily blocked a controversial California law three days before it would have required the credit-card industry to warn customers that routinely paying only monthly minimums can be hazardous to their wealth.
Although he scolded the bankers Friday for waiting until late May to file suit, Judge Frank C. Damrell of U.S. District Court in Sacramento shelved the law until a hearing Nov. 8, saying he wanted both sides to provide more evidence about the industry's costs and the consumer's benefits. The law was scheduled to take effect Monday.
(Excerpt) Read more at bayarea.com ...
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