Do high service charges exacted by MBNA for credit card cash advances constitute a criminal rate of interest? This is among the issues certified as a class action by the Ontario Court of Appeal in Markson v. MBNA Canada Bank. The court held that the bank could not rely on its failure to keep data to escape certification. [more] Full article

In April 2004, the Supreme Court ordered Enbridge Gas Distribution to pay back late payment penalties charged to gas customers that exceeded the limit on interest rates in the Criminal Code. This decision provides a reminder that companies that are not careful in setting interest rates can get into trouble. [more] Full article