Venezuela’s Armed Forces Bank Slams Mastercard for Halting Card Service

Venezuela’s Armed Forces Bank Slams Mastercard for Halting Card Service.
Venezuela’s Armed Forces Bank Slams Mastercard for Halting Card Service
Mastercard Inc. credit cards are displayed in this picture illustration taken on Dec. 8, 2017. Benoit Tessier/Illustration/Reuters
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CARACAS—A Venezuelan bank run by the socialist country’s military on Wednesday slammed Mastercard for cutting off service to the bank’s credit cards following U.S. sanctions against the regime of illegitimate dictator Nicolas Maduro.

But the practical impact is limited because the bank is small and hyperinflation has reduced use of credit cards, whose credit limits rarely keep up with price increases.