Relevant:
- JPMorgan Chase Ordered To Pay $309 Million For Illegal Credit Card Practices
- Cashless Customers Hold Riches for Retailers
- Wells Fargo to pay $65 million for allegedly lying to investors about fake accounts
- Citi to pay $700M for deceptive credit card marketing
- Capital One Copes as Clients Kick Habits
2012-07-18 — go.com
The Obama administration's consumer watchdog agency flexed its enforcement muscles for the first time Wednesday and ordered Capital One Bank to repay millions of credit card customers allegedly tricked into buying costly add-on services.
Capital One will pay $210 million in refunds and regulatory fines. Most of the money will go directly to customers.
The bank's phone-sales operators told customers that services like payment protection and credit monitoring were free or mandatory or offered more benefits than they did, federal officials said. The hard selling targeted people with poor credit, they said.
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