Thank you, CFPB!! Received a nice refund check today from Capital One!
Remember this bit of news last year?
Capital One to pay $210 million in fines, consumer refunds
NEW YORK (CNNMoney) -- In its first public enforcement action, the Consumer Financial Protection Bureau announced it is fining Capital One Bank for pressuring and misleading two million customers into buying additional products when they opened their credit card accounts.
The bank will refund roughly $140 million to customers and pay an additional $25 million penalty to the CFPB for using deceptive marketing tactics, the government's consumer watchdog said Wednesday.
http://money.cnn.com/2012/07/18/pf/capital-one-refund/index.htm
Well, we got our refund check today, and it was a nice, tidy sum. Looks like it is every single dollar that "PrivacyGuard" fraudulently billed us on our credit card, despite all the times we called to complain and state that we never ordered it, didn't want it, didn't even know what it was. The accompanying letter makes it seem they are *kindly* refunding this money because "while you were enrolled, you did not receive all of the benefits of this service." And, of course, nary a word about the CFPB's enforcement action.
So, watch your mailbox!! Could be a nice surprise waiting for you there if you ever saw these phony charges on your credit card bill.
= new reply since forum marked as read
The banks fought the formation of the CFPB's formation with tooth and nail...........and it still got done!
Congrats to you on getting your money back!
Wishing the same for many more of us! I looked all over DU and in the news and haven't seen any reports of refunds yet. I was also glad to read that the CFPB won't be affected by the gov't shutdown, either.
GOP's Least Favorite Projects Will Keep Running During Government Shutdown
WASHINGTON -- If Congress can't pass legislation to keep the government funded by Monday at midnight, the Smithsonian museums will close, the Centers for Disease Control will halt its influenza monitoring program and up to 800,000 federal workers (many of whom have already faced unpaid leave due to sequestration) will be furloughed.
But shutting down the federal government won't stop two of the Republican Party's most despised bogeymen: Obamacare and the Consumer Financial Protection Bureau.
http://www.huffingtonpost.com/2013/09/28/government-shutdown_n_4009289.html
