Search Results: test Credit Cards

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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