Chase Bank USA, N. A. v. McCoy

Summary

The Supreme Court held that Regulation Z does not require a credit card issuer to provide advance notice of an interest-rate increase implemented pursuant to a cardholder agreement provision allowing such an increase upon delinquency or default, so long as the agreement specified the triggering contingency and maximum rate. The Court deferred to the Federal Reserve Board's interpretation of Regulation Z as set forth in its amicus brief under Auer v. Robbins.