Search Results: test Credit Cards

Tennessee Attorney General Announces Settlement with Credit Card Transaction Processor

On November 4, 2015, the Tennessee Attorney General announced a settlement with a credit card transaction processor over allegations that the company violated state consumer protection laws by misrepresenting the cancellation policy and duration of its credit card processing equipment leases, as well the compatibility of its equipment. As part of the…

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California AG Settles with National Bank over Alleged Abusive Debt Collection Practices

On November 2, 2015, the California Attorney General’s Office announced that it had entered into a $100 million stipulated judgment with a national bank over allegations that the bank engaged in abusive debt collection practices, in violation of California’s Fair Debt Collection Practices Act. The allegations relate to the bank’s…

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New Hampshire AG Announces Enforcement Action Against Credit Card Payment Processors

​On September 22, 2015, the New Hampshire Attorney General’s Office announced two regional payment processing companies each had entered an Assurance of Discontinuance over alleged improper telephone solicitations. The companies allegedly contacted New Hampshire businesses repeatedly, offering credit card payment processing services. The companies also allegedly offered account monitoring and…

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Office of the Comptroller of the Currency Announces $30 Million Civil Penalty Against National Bank Over SCRA Violations

On August 21, 2015, the Office of the Comptroller of the Currency announced that it had concluded its investigation into several related national banks regarding alleged violations of the Servicemembers Civil Relief Act. The Act prohibits certain debt collection activities against members of the armed forces. Before proceeding with judicial…

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North Dakota AG Issues Cease and Desist Order to Consumer Credit Company for Robocalls

On August 17, 2015, the North Dakota Attorney General’s Office announced it entered a cease and desist order against a regional consumer credit services company. According to the Attorney General, the company solicited business using illegal robocalls that promised interest rate reductions and other loan modification services. The company allegedly called…

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CFPB and OCC Issue Consent Orders Against National Bank for Credit Card Practices

​On July 21, 2015, the Consumer Financial Protection Bureau (“CFPB”) issued a consent order requiring a national bank and its subsidiaries to provide roughly $700 million in consumer relief due to the bank’s practices relating to its credit card services and add-on products.  The consent order states that a CFPB review of the bank’s practices…

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Court Enters Injunctive Relief in FTC and Florida Attorney General Action Against Telemarketers Who Offered Debt Relief Services

​On July 7, the Federal Trade Commission (FTC) announced that a federal court entered a preliminary injunction​ halting an alleged nationwide debt relief telemarketing scam and freezing the defendants’ assets. The FTC claims that the defendants millions from consumers.  The complaint, brought by the FTC and Florida Attorney General, alleged that the defendants contacted consumers…

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CFPB Takes Action Against Companies for Unfair Billing of Credit Card Add-On Products and Services

The Consumer Financial Protection Bureau (“CFPB”) took action against two credit card vendors, entering into proposed consent orders regarding the companies’ offerings of allegedly unlawful add-on products.  Credit card companies offer consumers “add-on” services, such as credit monitoring or identity theft protection for a monthly or annual membership fee. Following an…

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