Originally Posted by
Happy
While EC 261/2004 the airlines eat the cost as that is the result of their failure to perform I dont believe the banks eat the disputed amount under Reason Code 76/4846 because the fault is at the merchant's side. US Banks especially AMEX, would not hesitate to charge back the merchants.
The cost to bank is not eating the loss - it's the administrative cost of filing and following up the chargeback.
Apparently the administrative cost is enough to make banks in the States pay out of pocket.
Our banks are uniformly run by scrooges who believe in no such thing. So they fight the customer.