CFPB Draws First Blood

Capital One Financial Corp. (COF) will pay a total of $210 million to settle charges of deceptive marketing of credit card “add-on” products such as payment protection and credit monitoring.”

I guess their 3rd party marketing partner was too aggressive with the add ons.  Hard to say if $210 million means anything to Capital One.  It may be the equivalent of a parking ticket.

Looks like the CFPB is playing judge, jury and executioner. You can read the full story at Bloomberg.


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