Swanson v. Bank of Am., N.A., 08-3322
Petition for rehearing of a judgment involving credit card interest rates is denied where: 1) the present court declines to follow the contrary conclusion of the 9th Circuit Court of Appeals as any conflict will be resolved by a new regulation taking effect on July 1, 2010, which clears up the ambiguity in the current regulation and commentary; and 2) any reinstated claims under state law would rest on Delaware banking law, and defendant complied with the relevant Delaware statute and thus may not be held liable under Illinois law.
- Decided 04/24/2009
- Published 04/24/2009
- EASTERBROOK, Chief Judge., Before EASTERBROOK, Chief Judge, and KANNE and EVANS, Circuit Judges.
- United States Seventh Circuit
- For Appellant:
- Michael S. Hilicki, Attorney, Lawrence Walner, Walner Law Firm, Ltd., Chicago, IL, Barry Leonard Kramer, Attorney, Law Offices of Barry L. Kramer, Los Angeles, CA, for Plaintiff-Appellant.
- For Appellees:
- Brandon C. Fernald, Attorney, Fulbright & Jaworski, Los Angeles, CA, for Defendants-Appellees.