The Case against Section 75 of the Consumer Credit Act 1974 in Credit Card Transactions

摘要

This article re-opens the discussion whether joint lender liability under s. 75 of the Consumer Credit Act 1974 extends to credit card transactions. This issue came to prominence in 2007 when the House of Lords held in Office of Fair Trading v Lloyds TSB Bank that joint liability is also applicable to goods and services bought abroad. The author questions the rationale behind s.75 and shows how it is misconceived in terms of policy and should therefore be abandoned.