Law Commons^™

Bank Charge Cards: New Cash Or New Credit, Roland E. Brandel, Carl A. Leonard

Michigan Law Review

It is the premise of this Article that the bank charge card systems constitute a new, highly useful, and efficient payment and credit mechanism; that any decision-making body that promulgates a rule on the issue of the assertability of consumer defenses must carefully evaluate the true functions of bank charge cards, particularly their role as part of a sophisticated payment mechanism, and weigh the relative interests of the consuming public, merchants, and members of the banking industry to derive the best solution for society; that courts are ill-equipped to perform this function; and, that, given the national and international usage …