First Premier Bank, a credit card issuer that specializes in issuing credit cards for consumer with low credit scores or without credit scores, has sued to block regulations that it said would put it out of business.
The company filed suit in U.S. District Court for the South Dakota, Southern Division.
The company said its cards are the only chance many consumers have of getting a credit card and that its upfront fees of between $25 and $95 differ from those Congress tried to target in the CARD Act of 2009.
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