In a victory for lenders, a federal appeals court in Chicago has ruled that banks do not have to make in-depth Truth-in-Lending Act disclosures to private-label credit card recipients. The U.S. Court of Appeals for the Seventh Circuit rejected an argument by Harry and Patricia Benion that Banc One Corp. should have provided them the more extensive disclosures required for closed-end credit when it financed the couple's purchase of a satellite television system.

Instead, the court said Banc One only had to give the less onerous disclosures for open-ended credit because it "reasonably expected to have at least some repeated transactions" on the EchoStar credit card issued to the Benions.

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