How to buy financial capital?

CFPB Gets Full Refund for Capital One Customers Abused by Add-On Credit Card Fees  May 10, 2017 – 10:52 pm
How to buy financial capital?Evaluation and Reporting

CFPB forces Capital One to rebate excess fees to credit card customers

In a proof of concept one year after the standing up of the agency, the Consumer Financial Protection Bureau announced an enforcement action that will give consumers a full refund on illegal credit card fees extracted by Capital One.

The enforcement action, the first from the CFPB, accomplishes the rare feat of clawing back exactly the amount gained on the illegal action, plus interest, for all 2 million consumers affected. This sounds intuitive, but happens rarely in Washington. In fact, in this case, Capital One will pay a $25 million penalty on top of what they gained in fees. Here’s an excerpt of the press release from CFPB:

Through the supervision process, CFPB’s examiners discovered Capital One’s call-center vendors engaged in deceptive tactics to sell the company’s credit card add-on products. These products included “payment protection, ” which allows consumers to request that the bank cancel up to 12 months of minimum payments – roughly one percent of their credit card balance – if they encounter certain life events like unemployment and temporary disability. It also provides debt forgiveness in the event of death or permanent disability. Another product was “credit monitoring, ” with services such as identity-theft protection, access to “credit education specialists, ” and, in some cases, daily monitoring and notification.

Source: Firedoglake

You might also like:

Victoria De Makati - New San Jose Builders, Inc
Victoria De Makati - New San Jose Builders, Inc
Stock Market Tutorial #5 Financial Basics How to buy stocks
Stock Market Tutorial #5 Financial Basics How to buy stocks
Find Investors-Angel, Venture Capital, Private Equity, Which one for your business capital?
Find Investors-Angel, Venture Capital, Private Equity, Which one for your business capital?

Expected a lot in exchange for political gifts

They called it 'the matrix,' a computer program that brought a scientific dimension to Enron's effort to seduce politicians and sway bureaucrats.
With each proposed change in federal regulations, lobbyists punched details into a computer, allowing Enron economists in Houston to calculate just how much a rule change would cost. If the final figure was too high, executives used it as the cu...k attitude,' in reference to Comedy Central's animated series populated with profane and irreverent third-graders. The idea, the executive said, was to push hard and not worry about making friends.
'The ingrained philosophy was, me first, money counts and the government should eliminate my taxes,' said another former manager. 'That's all they cared about -- what impacted them personally.'

Buying congress

The Enron scandal-mongers have it all wrong. The 'big deal' about Enron-gate isn't that the Bush Administration has ties to the now-defunct energy giant, but rather, that the White House, and most of Congress, are pretending that those ties don't influence public policy. That is simply bull.
I worked five years on Capitol Hill as a senior aide to a Senator. And anyone who suggests that pol...ived more money from Arthur Andersen (Enron's now-in-trouble auditor) than Mr. Tauzin. Tauzin's staff has said that the congressman will not recuse himself from the investigation, because to do so would suggest that there was something improper about taking so much money from corporate interests the Congress is supposed to be investigating impartially.
Yes, Mr. Profile-in-Courage, it would

Significant amendments to the North Carolina Beer Franchise Law  — Lexology
The bill strengthens the definition of “brand” as pertains to beer, by codifying the definition that currently exists in the North Carolina Administrative Code, 4 NCAC 2T.0103, within the statutes of the Beer Franchise Law. The codification of this …

Wiley The Business of Venture Capital: Insights from Leading Practitioners on the Art of Raising a Fund, Deal Structuring, Value Creation, and Exit Strategies (Wiley Finance)
Book (Wiley)

Related posts:

  1. How to buy structural capital?
  2. How to sell financial capital?
  3. How to buy corporate capital?
  4. What is financial capital?