Bank of America Must Pay $772 Million for Illegal Credit Card Practices

Today, Bank of America was ordered by the Consumer Financial Protection Bureau to refund $727 million to consumers who were deceived by the bank's marketing of credit card payment protection programs and others who were charged for credit monitoring services they never … Continue reading

Top Credit Card Stories of the Year

2012 was a relatively quiet year for the credit card industry. However, there were a number of developments that may have a far-reaching impact in the years to come. Here are the top ten credit card stories of 2012: Swipe … Continue reading

American Express to Pay $112.5 Million in Fines & Refunds

Another day, another major fine for a credit card company. American Express will refund $85 million to customers and pay $27.5 million in civil penalties to settle regulators' accusations that the company violated a number of consumer protection laws. The … Continue reading

Deceptive Telemarketing Practices Cost Discover Over $200 Million

Yet another credit card issuer will have to pay back millions of dollars to customers for misleading telemarketing practices. Today, the Consumer Financial Protection Bureau and the FDIC announced that Discover will refund $200 million to their credit card customers … Continue reading