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Are catalog charges and interest rates subject to the same laws as bank charges?
Wiki User
∙ 13y ago
No.
While most catalogue retailers are not subject to the same regulatory framework as are banks, those retailers are limited in the maximum interest rates they are allowed to impose on customers.
Fees, however, are not limited with the catalogue scheme because catalog shopping is not the only way to go shopping and, therefore, those fees are considered "convenience" fees for the catalogue providing you with the service.
Wiki User
∙ 13y ago
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