Time to clean up act on Wall Street and especially Capital One.
Capital One, one of the nation’s biggest banks, will reimburse $150 million to more than two million customers for selling them credit card products they could not use or did not want, as the nation’s new consumer watchdog leveled its first enforcement action against the financial industry.
- Consumer Watchdog Fines Capital One for Deceptive Credit Card Practices (dealbook.nytimes.com)
- Capital One to pay $210 million in fines, consumer refunds – CNN (money.cnn.com)
- In First Enforcement, Consumer Watchdog Fines Capital One (wnyc.org)
- Capital One to Pay $210m (money.cnn.com)
- California Insurance Agents Call Silly the Much Ado About Nothing Consumer Watchdog Scare Tactic (prnewswire.com)