FDIC Hits Comenity Banks Over Deceptive Credit Card Add-Ons
The FDIC has settled with Delaware-based Comenity Bank and Comenity Capital Bank of Salt Lake City for deceptive practices relating to the marketing of credit card add-on products. Comenity Bank will pay a civil money penalty of $2 million and provide $53 million in restitution to harmed consumers. ...
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
News BriefFormer bank CEO pleads guilty in Venezuela-linked fraud and sanctions violations
A former bank chief executive has pleaded guilty in a U.S. federal court to charges tied to a multimillion-dollar fraud and sanctions evasion scheme linked to Venezuela. This follows the U.S. removal of Venezuelan President Nicolás Maduro from the country, and has opened up the country for trading oil and ...
-
ArticleDOJ makes good on corporate-friendly enforcement policy with Balt resolution
The ink was barely dry on the U.S. Department of Justice’s new corporate enforcement policy (CEP) when the agency announced it would not prosecute Balt SAS for alleged bribery violations.
-
ArticleBoA settles class-action related to its dealings with Jeffrey Epstein
Bank of America has agreed to settle a class-action lawsuit alleging know-your-customer and other failings in its dealings with convicted sex offender Jeffrey Epstein.