In Thompson v. Mastercard, a class action suit brought against Mastercard, Visa and related banks under the Racketeer Influenced and Corrupt Organizations Act (RICO), the U.S. Court of Appeals (5th Cir.) affirmed that it was not illegal for credit card companies and banks to process debts incurred by the plaintiffs when they bought "chips" from Internet gambling sites. The Court ruled that the plaintiffs "have not sufficiently alleged "˜the collection of unlawful debt'", and that "RICO, no matter how liberally construed, is not intended to provide a remedy to this class of plaintiff."
For the full text of the decision, visit:
http://www.ca5.uscourts.gov/opinions/pub/01/01-30389-cv0.pdf
E-TIPS® ISSUE
02 12 19
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