If a bank, credit card company, or other financial institution has promised one thing but done another, they may have committed fraud or violated financial regulations.There are many ways for financial institutions to violate the law. Just a few examples of such violations are:
- Promising a fixed interest rate on your credit card or loan but then increasing the interest rate;
- Promising a low introductory rate for a certain period of time, but increasing it before that time-period is over;
- Charging undisclosed fees on transactions;
- Processing transactions in an order designed to maximize fees.
Banks, credit card companies, and financial firms have to meet stringent regulations regarding what disclosures they make regarding things like interest rates, minimum payments, and fees. If they fail to make these disclosures, or make them in a way that is misleading, their customers may be entitled to compensation.
Financial regulations, however, are extremely complex. You need lawyers who have significant experience in navigating those complex regulations in order to determine whether, in your case, those companies crossed the line.
Our firm has successfully sued banks, credit card companies, and other financial institutions and recovered millions of dollars for consumers.
If you believe you were the subject of fraud by a bank, credit card company, or other financial institution, please call or email us today for a free consultation on your case.