360° Coverage : Consumer Financial Protection Bureau Swings their Weight for the...

1 Updates
Consumer Financial Protection Bureau Swings their Weight for the First Time
Photo Credit: Blogspot

Consumer Financial Protection Bureau Swings their Weight for the First Time

Jul 18 2012, 1:25pm CDT | by

The CFPB has fined Capital One for deceptive marketing tactics in their first move as a consumer financial oversight bureau.

The consumer financial protection bureau has fined Capital One to the tune of $210 million dollars after the new regulatory agency found the financial company guilty of forceful and deceptive...

Filed under: news

YouTube Videos

 
 
 

2 years ago

Consumer Financial Protection Bureau Swings their Weight for the First Time

Jul 18 2012, 1:25pm CDT | by

The CFPB has fined Capital One for deceptive marketing tactics in their first move as a consumer financial oversight bureau.

The consumer financial protection bureau has fined Capital One to the tune of $210 million dollars after the new regulatory agency found the financial company guilty of forceful and deceptive marketing practices. The company known for flashy tv commercials featuring the tagline "what's in your wallet" is an aggressive marketer when it comes to picking up younger and less experienced financial customers. As part of the deal Capital One must reimburse about $140 million to its customers. 

The company in a prepared statement said that the problems arose out of call centers that did not always adhere to proper script guidelines thus leading to the miscommunication and eventual ills associated with credit card abuse in the years leading up to the financial bust of 2008. The CFPB has long been accused by conservatives as being big brother to Wall Street whereas liberals have mainly seen the CFPB as becoming effectively neutered before any power was bestowed on it.

Source: Dealbook

 

Don't miss ...

 


Andrew is a digital marketer based out of New York City. He has had experience in advertising, marketing, and brand development for various start-ups and most recently a brand research firm headquartered in Washington, DC.

 

blog comments powered by Disqus

Latest stories

NASA's flying saucer among 'Best of What's New'
Washington, Nov 22 (IANS) NASA's Low-Density Supersonic Decelerator (LDSD), a spacecraft that aims to facilitate the safe landing of future Mars missions, has earned a place in the the Popular Science magazine's "Best Of What's New" list.
 
 
Indian helping to light up Gambia (Diaspora Feature)
Banjul (Gambia), Nov 22 (IANS) Like many Indians who are proving to be philanthropists around Africa, Ram Mohan has set up a social business called Comafrique Intelizon Initiative and has embarked on the replacement of candles in villages in the Gambia with solar lights from India.
 
 
Leopards in human areas not conflict animals: Study
New Delhi, Nov 22 (IANS) Leopards in human areas are not always "stray" or "conflict" animals but residents with strategies to thrive in human dominated areas, says the first GPS-based study of leopards in India.
 
 
Golf courses are hotspots for ticks
Washington, Nov 22 (IANS) Golf courses are prime habitats for ticks, the tiny bloodsucking creatures, says a new study.
 
 
 

Latest from the Network

Kelly Brook's new man
Kelly Brook has reportedly found a new man. The 34-year-old model - who spectacularly split from David McIntosh in September this year - is believed to be dating model, James Crabtree, after the pair were seen out and...
Read more on Celebrity Balla
 
Gosling gets restraining order against stalker
Los Angeles, Nov 22 (IANS) Actor Ryan Gosling and his sister Mandi have obtained a restraining order against a woman stalker. The woman, Grace Marie Del Villar was allegedly stalking the actor for the past three...
Read more on Celebrity Balla
 
Julie Walters wants to be Bond villain
Julie Walters' dream role is to play James Bond villain. The 64-year-old actress would love to play an over-the-top baddie in the famous spy series, after being inspired by the actress Lotte Lenya, who played the main...
Read more on Movie Balla
 
Shuttler Srikanth loses in Hong Kong Open semis
Hong Kong, Nov 22 (IANS) Leading Indian shuttler Kidambi Srikanth's good run in the $350,000 Hong Kong Open Super Series came to an end as he lost to top seed Chen Long of China in the men's singles semifinal here...
Read more on Sport Balla
 
NASA's flying saucer among 'Best of What's New'
Washington, Nov 22 (IANS) NASA's Low-Density Supersonic Decelerator (LDSD), a spacecraft that aims to facilitate the safe landing of future Mars missions, has earned a place in the the Popular Science magazine's "Best...
Read more on Business Balla
 
Five killed in Afghanistan attack
Kabul, Nov 22 (IANS) At least five people were killed and seven injured in an attack in Afghanistan, the authorities said Saturday. A bomb targeted a car in Nangarhar province's Jalalabad city, 120 km from Kabul,...
Read more on Politics Balla
 
JLo uses diamonds to exfoliate?
Los Angeles, Nov 22 (IANS) Singer-actress Jennifer Lopez reportedly uses a $250 body scrub made with diamond powder to exfoliate. According to a report in US OK! magazine, the 45-year-old star swears by the Australian...
Read more on Celebrity Balla
 
Gorilla Glass 4 to toughen smartphone screens
New York, Nov 22 (IANS) Glassmaker Corning Incorporated has unveiled the super tough Gorilla Glass 4, the latest version of its hardened glass covers that save smartphone and tablet screens from damage. The new...
Read more on Celebrity Balla
 
Pakistan and New Zealand cricketers advance in rankings
Dubai, Nov 22 (IANS) Pakistan and New Zealand progressed in the Test rankings following their drawn second Test, according to the latest International Cricket Council (ICC) release Saturday. Sarfraz Ahmed jumped to a...
Read more on Sport Balla
 
One Direction put girlfriends first
One Direction put their girlfriends before their mothers. The 'Steal My Girl' hitmakers - comprising Zayn Malik, Niall Horan, Louis Tomlinson, Harry Styles and Liam Payne - admit they will rush to see their partners...
Read more on Celebrity Balla