The U.S. Court of Appeals for the Third Circuit has handed credit card banks another victory in their fight to overcome some states' limits on late-payment and over-limit fees.

Falling in line with the First Circuit appellate court and two state supreme courts, the Philadelphia-based Third Circuit ruled that the penalties constitute interest under the National Bank Act.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.