Hey, Dodd-Frank haters:
http://www.nytimes.com/2012/07/21/opini ... rd.html?hp
On Wednesday, Capital One, the big purveyor of credit cards, agreed to pay $210 million — including reimbursing customers to the tune of $150 million — because one of its vendors had deceptively marketed and sold customers needless add-on products.
Where were the regulators? In this case, it was the new Consumer Financial Protection Bureau that conducted the investigation and brought the action against the bank. It was the agency’s very first enforcement action.
If you have a Capitol One card, you could be getting a reimbursement. Hope we see more of the same from the despicable, socialistic Consumer Financial Protection Bureau -- which, not incidentally, was created by Dodd-Frank.