In Russia, anyway, bank pays for not reading fine print

Raise your hand if you’ve ever read a software license, credit card, or bank “agreement.” I didn’t think so.

Apparently banks don’t read them, either.

Presented with a typical agreement, a man in Russia altered the terms — no interest, unlimited credit, and “fees” if the bank didn’t honor the terms — and then sent it back to the credit card company, which subsequently issued a credit card.

Whose terms are in force?

A judge ruled in the man’s favor after the credit card company sued him under terms that were not in the agreement.

Armed with the decision, the man is now turning around and suing the bank for over $700,000 in “fees” that were in the agreement.

The bank, apparently, isn’t taking this lying down. It’s looking into whether its clever client committed fraud.

(h/t: Nate Minor)

  • In Soviet Russia, you screw over credit card company!