One of the nation’s largest credit card companies, GE Capital (which changed its name to Synchrony Bank a couple weeks back) has agreed to the largest credit card discrimination settlement in U.S. history and will fork over a total of $225 million in relief to around 750,000 consumers for illegal and discriminatory credit card practices. [More]
slap on the wrist
Bank Of America Could End Investigations Into Its Troubled Mortgage Investments For $20B
By 4.25.14
There’s another new chapter being written in the ongoing saga known as the financial crisis. The Justice Department is aiming to make a deal, in the area of $20 billion, with Bank of America for the company’s part in selling troubled mortgage investments. But resolution doesn’t look to be happening anytime soon. [More]
Bank Of America May Pay $800 Million For Questionable Credit Card Add-Ons
By 4.4.14
There’s another big legal bill on the horizon for Bank of America, as reports indicate the bank may soon agree to pay $800 million to settle allegations tied to sketchy add-on services for credit card customers. [More]
JPMorgan Chase To Pay $614M In Settlement For Defrauding Federal Agencies
By 2.5.14
JPMorgan Chase & Co. is running up quite the legal tab this year. On Tuesday, that tab grew by $614 million when the company agreed to settle its latest legal woe with the U.S. government. [More]
World’s Largest Debt Collector To Pay $3.2 Million Penalty For Harassing Consumers
By 7.9.13
It’s highly possible you’ve never heard of Expert Global Solutions, but it’s the largest debt-collection operation in the world. It also is the subject of a recent Federal Trade Commission complaint alleging that the company and its subsidiaries violated federal law by harassing consumers. [More]
