Company Did Not Properly Disclose Terms and Conditions of Its Auto Loan Add-On Product and Auto Loan Extensions
Deceptive Marketing and Illegal Billing of Add-On Products Harmed Hundreds of Thousands of Consumers
Consumers Billed for Credit Reporting and Identity Theft Protection Benefits They Did Not Receive WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) took action against two credit card add-on product vendors – Affinion Group Holdings, Inc., Affinion’s affiliated companies, and Intersections Inc. – for unfairly charging consumers for credit card add-on benefits they […]
CFPB Orders U.S. Bank to Pay $48 Million Refund to Consumers Illegally Billed for Services Not Received
Approximately 420,000 Consumers Unfairly Charged for Identity Protection “Add-On” Products to Receive Full Refunds WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) is ordering U.S. Bank to provide an estimated $48 million in relief to consumers harmed by illegal billing practices. U.S. Bank consumers were unfairly charged for certain identity protection and credit […]
Thank you for joining us on this call today. Today, the Bureau is ordering GE Capital Retail Bank, now known as Synchrony Bank, to provide $225 million in remediation to 746,000 consumers who were harmed by GE Capital’s deceptive credit card add-on practices and discriminatory debt relief promotions. This kind of conduct has no place in the consumer financial marketplace. People deserve to be given clear information and they deserve to be treated fairly.
Written Testimony of Director Richard Cordray Consumer Financial Protection Bureau Before the House Committee on Financial ServicesSeptember 12, 2013Chairman Hensarling, Ranking Member Waters, and Members of the Committee: thank you for inviting me to testify today about the third Semi-Annual Report of the Consumer Financial Protection Bureau. Born out of the worst financial crisis since […]