Bait‑and‑Switch Credit Card Offer
In a variation on the typical “bait‑and‑switch” scheme, a bank made a promotional offer of a “no annual fee” credit card, then changed the terms mid‑year to require such a fee. A credit card holder sued the bank under the federal Truth in Lending Act (TILA). She alleged a violation of the requirement in TILA that an issuer of a credit card disclose the terms of the card accurately and without misleading statements. A federal court allowed the lawsuit to continue.