Local Business Alert: Capital One to pay $210M to end probe of credit monitoring and other add-on card services

Wednesday, July 18, 2012

   
The Washington Post Wednesday, July 18, 2012 11:12:24 AM
LOCAL BUSINESS ALERT

Capital One to pay $210M to end probe of credit monitoring and other add-on card services


Capital One Bank will pay $210 million to settle federal charges that it tricked credit card customers into buying costly add-on services like payment protection and credit monitoring.

The order against Capital One is the first enforcement action by the Consumer Financial Protection Bureau, which was set up a year ago to protect consumers from excessive or hidden fees and other financial threats.


Read more at:
http://www.washingtonpost.com/business/capital-one-pays-165-million-to-end-probe-of-credit-monitoring-and-other-add-on-card-services/2012/07/18/gJQA7daXtW_story.html



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