Reuters: Regulatory News: US consumer agency orders Capital One to pay $165 million

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

US consumer agency orders Capital One to pay $165 million Jul 18th 2012, 14:22 WASHINGTON, July 18 | Wed Jul 18, 2012 10:22am EDT WASHINGTON, July 18 (Reuters) - Capital One Financial Corp's Capital One Bank will pay $165 million to resolve charges by the U.S. Consumer Financial Protection Bureau that it misled consumers into paying for extra credit card products, the agency said On Wednesday. The CFPB, in its first public enforcement action, said it is requiring the bank to pay $140 million to consumers, in addition to a $25 million penalty. "Today's action puts $140 million back in the pockets of 2 million Capital One customers who were pressured or misled into buying credit card products they didn't understand, didn't want, or in some cases, couldn't even use," said CFPB Director Richard Cordray.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions