Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

FDIC Hits Comenity Banks Over Deceptive Credit Card Add-Ons

Joe Mont | September 8, 2015

The Federal Deposit Insurance Corporation on Tuesday announced a settlement with Delaware-based Comenity Bank and Comenity Capital Bank of Salt Lake City, Utah, for deceptive practices related to the marketing and servicing of credit card "add-on products.” The banks are both wholly-owned subsidiaries of Ohio-based Comenity, LLC.

As part of the settlement, Comenity Bank will pay a civil money penalty of $2 million and provide restitution of approximately $53 million to harmed consumers....

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.