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HandWiki. Smiley V. Citibank (South Dakota), N. A.. Encyclopedia. Available online: https://encyclopedia.pub/entry/31816 (accessed on 23 September 2026).
HandWiki. Smiley V. Citibank (South Dakota), N. A.. Encyclopedia. Available at: https://encyclopedia.pub/entry/31816. Accessed September 23, 2026.
HandWiki. "Smiley V. Citibank (South Dakota), N. A." Encyclopedia, https://encyclopedia.pub/entry/31816 (accessed September 23, 2026).
HandWiki. (2022, October 28). Smiley V. Citibank (South Dakota), N. A.. In Encyclopedia. https://encyclopedia.pub/entry/31816
HandWiki. "Smiley V. Citibank (South Dakota), N. A.." Encyclopedia. Web. 28 October, 2022.
Smiley V. Citibank (South Dakota), N. A.
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The content is sourced from: https://handwiki.org/wiki/Finance:Smiley_v._Citibank_(South_Dakota),_N._A.

Smiley v. Citibank, 517 U.S. 735 (1996), is a U.S. Supreme Court decision upholding a regulation of the Comptroller of Currency which included credit card late fees and other penalties within the definition of interest and thus prevented individual states from limiting them when charged by nationally-chartered banks. Justice Antonin Scalia wrote for a unanimous court that the regulation was reasonable enough under the Court's own Chevron standard for the justices to defer to the Comptroller. The decision, which had begun as a class action in California, was seen as a victory for banks and credit-card issuers, who could mostly charge late fees as they pleased. For that same reason consumer advocates were displeased, warning that late fees could rise to previously unseen levels. They did, and one of the Citibank attorneys has expressed regret for his involvement.

regulation credit card credit-card

References

  1. Stein, Robin (2004-11-23). "The Ascendancy of the Credit Card Industry". Frontline: The Secret History of the Credit Card. PBS. https://www.pbs.org/wgbh/pages/frontline/shows/credit/more/rise.html. Retrieved 2008-08-26. 
  2. Drummond, Bob (1996-06-04). "Court ruling in credit card fee issue seen as victory for banks". Bloomberg Business News (Bloomberg L.P.). http://findarticles.com/p/articles/mi_qn4182/is_19960604/ai_n10090505. Retrieved 2008-08-30. 
  3. Patton, Carol (1996-10-04). "Local lawyers lose Supreme Court battle on bank fees". Philadelphia Business Journal (American City Business Journals, Inc.). http://www.bizjournals.com/philadelphia/stories/1996/10/07/focus2.html. Retrieved 2008-08-30. 
  4. Smiley v. Citibank, 26 Cal. App. 4th 1767, 32 Cal. Rptr. 2d 562 (1994).
  5. 60 Fed. Reg. 11924, 11940.
  6. Smiley v. Citibank, 11 Cal. 4th 138, 900 P. 2d 690 (1995)
  7. Sherman v. Citibank (South Dakota), N. A., 143 N. J. 35, 668 A. 2d 1036 (1995).
  8. Funk, William (Fall 1996). "Supreme Court News". Administrative & Regulatory Law News, Vol. 22, No. 1. American Bar Association. http://www.abanet.org/adminlaw/news/vol22no1/supctnew.html. Retrieved 2008-08-31. "While this statement hardly seems revolutionary, Chevron watchers are surprised to see it come from Justice Scalia. After all, Justice Scalia is one known to be more likely to find a statute clear, rather than ambiguous." 
  9. Smiley v. Citibank (South Dakota), N.A., 517 U.S. 735, 739, Scalia, J.
  10. Supra., 740, 741.
  11. Supra., 741.
  12. Supra., 743.
  13. Supra. 744, 745.
  14. Supra., 746, 747.
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