Credit Card Debt

  • Wells Fargo Management Turned a Blind Eye to the Creation of Fake Accounts

    By LRNadmin
    In April 14, 2017
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    With Sales Abuses Dating Back To 2002, Wells Fargo Board Claws Back $75 Million More From Executives Responsible Maggie McGrath In an attempt to atone for having created millions of bank and credit card accounts without customer permission or knowledge, Wells Fargo installed a new chief executive, reformed its sales incentives and clawed back more than $60 million in stock awards from the executives deemed responsible. And it’s not stopping there. On Monday, following the publication...
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  • Citibank Stops Collecting Credit Card Debt

    By LRNadmin
    In March 2, 2016
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    Citibank Will Stop Collecting $34 Million in Credit Card Debt By Jeanine Skowronski Published February 24, 2016 Certain credit card debtors are in for some relief. Citibank (NYSE:C) has agreed to provide nearly $16 million in consumer relief and forgo collecting on about $34 million in debt held by nearly 7,000 cardholders as part of two enforcement actions taken by the Consumer Financial Protection Bureau. The CFPB consent orders, released...
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  • Discover to Pay $200 Million Consumer Refund for Deceptive Marketing

    By LRNadmin
    In September 12, 2014
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    Federal Deposit Insurance Corporation and Consumer Financial Protection Bureau Order Discover to Pay $200 Million Consumer Refund for Deceptive Marketing WASHINGTON, D.C. – Today, the Federal Deposit Insurance Corporation (FDIC) and the Consumer Financial Protection Bureau (CFPB) announced a joint public enforcement action with an order requiring Discover Bank to refund approximately $200 million to more than 3.5 million consumers and pay a $14 million civil money penalty. This...
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