First Premier Bank, a credit card issuer which specializes in issuing credit cards for consumer with low credit scores or without credit scores, has sued to block regulations that it said will put it out of business.
The company filed suit in U.S. District Court for 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 Credit Card Accountability, Responsibility and Disclosure Act in 2009.
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