Credit Card Brands Running Up PR Debt

This week Capitol One consented to paying $210 million for using “deceptive marketing practices” in its advertisements and marketing campaigns. The Consumer Financial Protection Bureau, the government watchdog that regulates the industry, is reportedly just getting started as it mounts an effort to hold credit card lenders accountable for misleading consumers into purchasing unnecessary protection and monitoring services. The Office of the Comptroller of the Currency is also fining Capitol One for nearly 10 years of illegal billing practices.

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