GE Capital Corp.'s Monogram Credit Card Bank of Georgia recently botched its second effort to stay clear of the reach of Louisiana's consumer credit laws, this time by lobbying to enact legislation that was ultimately vetoed by Louisiana Governor M. J. "Mike" Foster Jr. Those consumer credit laws that Monogram is trying to circumvent set limits on the late fees and other charges that the credit card issuer may levy on Louisiana consumers.

As reported in the March 2000 issue of U.S. Banker, a class of Louisiana consumers has sued Monogram in the Louisiana courts, seeking to compel Monogram to keep its late fees and other charges in line with those permissible under the Louisiana consumer credit law. Monogram has been countering that it is not subject to those Louisiana laws, and that it can seek refuge in the more pro-credit card issuer laws of Georgia, where Monogram is headquartered.

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