Court Limits Victory In Fraudulent Credit Case

     NEW YORK (CN) – A New York appellate division limited former Attorney General Eliot Spitzer’s victory in a class action accusing Cross Country Bank of duping consumers with sub-prime credit into applying for its credit cards.

     The court ruled that the federal Truth-in-Lending Act does not pre-empt the state-law claims of fraud and deceptive trade practices, but that a previous class-action settlement limits the amount the former attorney general can recover.

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