This week, in "Banks Paying Hundreds of Millions of Dollars in Settlements," hero squad Consumer Financial Protection Bureau, in a joint effort with the Department of Justice, has ordered GE Capital Retail Bank to pay $225 million to consumers (link: http://www.acainternational.org/cfpbarticle-cfpb-fines-ge-capital-225-million-for-deceptive-credit-card-practices-32311.aspx) to make amends for illegal, deceptive marketing practices and illegal, xenophobic lending practices. As it turns out, GE Capital's telemarketers were "misrepresent[ing] several of its credit card add-on products to consumers by marketing the products as free of charge and as a limited time offer while failing to disclose consumers' ineligibility or that they were making a purchase," as well as denying loans to individuals based on their nation of origin.
Good to see a legal entity taking its role as model citizen seriously.
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