BANKING & FINANCE - Aug. 18, 1993
From Times Staff and Wire Reports
BankAmerica Corp. Wins Credit Card Case: A San Francisco County Superior Court jury sided with the banking company, finding that Bank of America’s parent did not conspire with three other banks to fix credit card interest rates at between 19.2% and 21% from 1982 to 1986. The lawsuit was first brought in 1986 by a group of Visa and MasterCard holders. The three other banks, Wells Fargo, First Interstate and Crocker Bank, all settled their cases last summer, paying plaintiffs $55 million, BofA attorney Greg Spencer said.
