Credit Card Penalty Payments Are Arriving
December 2, 2012
Recent crackdowns on credit-card deceptions will prompt more than $425 million in refunds to millions of U.S. consumers nationwide. The Consumer Financial Protection Bureau (CFPB) is behind some of this, as earlier this year it ordered American Express, Capital One, and Discover to return a combined $425 million to consumers for using misleading sales tactics. The credit-card issuers are required to contact the consumers eligible for a refund. The CFPB has also reminded consumers that these refunds could also inspire potential scams. The CFPB website warns: "If someone tries to charge you, tries to get you to disclose your personal information, or asks you to cash a check and send a portion to a third party in order to 'claim your refund,' it's a scam."
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