Suit Accuses MBNA of Unfair Credit Fees

MBNA Corp. faces a lawsuit accusing the world’s No. 3 credit card issuer of forcing customers to pay extra interest and late fees even when monthly credit card payments arrived on time. Cardholders contend that MBNA officials refuse to credit payments to their accounts if they arrive after 10 a.m. on the due date. Consumers wind up paying more in interest and late fees on payments that aren’t late, according to the suit filed in federal court in Miami. “As a result of [MBNA’s] unfair and deceptive practices, members of the class have sustained economic damages,” according to the suit filed Nov. 16. The plaintiffs seek class-action status. Officials of Wilmington, Del.-based MBNA could not be reached for comment. Two MBNA cardholders are asking a judge to allow all consumers who made credit card payments to the company since November 1996 to join together to seek damages over its payment-posting practices. MBNA’s shares rose 88 cents to $34.13 on the NYSE.