On Thursday, February 27, 2014, the Consumer Financial Protection Bureau (CFPB) encouraged credit card companies to offer consumers their credit scores for free online and in monthly statements – a practice that several issuers have already begun in an effort to distinguish their products in the industry. The CFPB recently sent letters to the nation’s
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Large Credit Card Company to Pay $75 Million Over Deceptive Credit Card Practices
On December 23, 2013, a large credit card company was ordered by the Consumer Financial Protection Bureau (CFPB) and other federal agencies to pay $75 million in restitution and penalties based on allegations of a variety of illegal practices, including unfair billing and deceptive marketing of add-on products. The CFPB alleged that the company misled
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