It is the premise of this Article that the bank charge card systems constitute a new, highly useful, and efficient payment and credit mechanism; that any decision-making body that promulgates a rule on the issue of the assertability of consumer defenses must carefully evaluate the true functions of bank charge cards, particularly their role as part of a sophisticated payment mechanism, and weigh the relative interests of the consuming public, merchants, and members of the banking industry to derive the best solution for society; that courts are ill-equipped to perform this function; and, that, given the national and international usage of bank charge cards, a uniform rule is imperative. The Article will first analyze each of these premises and then proceed to suggest a rule that seems effectively to balance the various interests involved.
Roland E. Brandel & Carl A. Leonard,
Bank Charge Cards: New Cash or New Credit,
Mich. L. Rev.
Available at: https://repository.law.umich.edu/mlr/vol69/iss6/4