FREE PREVIEW
|
LOGIN OR SUBSCRIBE NOW TO READ THIS ARTICLE
|
DOJ, CFPB announce largest-ever federal credit card discrimination settlement
|
Banking, Consumer Protection
Monday, June 23, 2014
|
|
The Consumer Financial Protection Bureau ordered GE Capital Retail Bank — known as of June 2 as Synchrony Bank — to provide an estimated $225 million in relief to consumers the agency said were harmed by illegal and discriminatory credit card practices. As part of a joint enforcement action by the CFPB and Department of Justice, GE Capital must provide $169 million to about 108,000 borrowers excluded from debt relief offers because of their national origin. The action represents the federal government’s largest credit card discrimination settlement in history.
TO READ THE FULL STORY
|
|
Already a subscriber?
Problems logging in?
Please call 330-659-6101 x 805 or email us for assistance.
|
|
Today's other top stories