Ed's Blog

UPDATE: Reporters are asking me: "Are all the kids doing it, or was it just Cap One?" Just a few weeks ago, David Lazarus of the LA Times reported that "Some Citibank credit card customers have received a sales pitch for a security service with their latest credit card bill. The box for signing up for the $5.95-a-month service is already checked." So, I will not be surprised if we see more actions regarding "mysterious" credit charges by the CFPB.

ORIGINAL POST: The CFPB, which turns one on Saturday, is coming of age. It has announced its first-ever enforcement action, against Capital One Bank, for alleged deceptive marketing of junky payment protection and credit monitoring products to cardholders. Typically these products can cost up to $14.95/month or even more in add-on monthly fees on your credit card bill. Victims will receive direct compensation without needing to apply or complain.

Capital One will pay over $200 million in direct restitution and civil penalties. The order also alleges that the bank targeted the useless products at lower-income customers. The bank denies it all, as they always do.

Payment protection products generally only "promise" to pay your minimum balance, and then only for a year, if you are laid off, disabled, sick or otherwise unable to pay your card. Consumer advocates receive numerous complaints that banks find loopholes or exceptions allowing them to refuse to make even these modest minimum payments in most cases. Payment protection costs a lot but is of little value.

Credit monitoring services are hyped as a defense against identity theft. The only real defense against identity theft is a security freeze (provided as a state law protection). Don't fall for credit monitoring pitches. See CFPB's new fact sheet on mystery credit card fees.

The CFPB order notes that the practices Capital One is being penalized for began as early as August 2010. At that pre-CFPB time, Capital One, as a national bank, was primarily supervised by the powerful but bank-friendly Office of the Comptroller of the Currency or OCC. In 2000, the OCC was shamed into taking action against Providian, at the time a large credit card company, only after the tiny San Francisco District Attorney found it was engaging in eerily similar practices to those that Capital One was participating in in the year 2010. We don't ask "what's in your wallet," but we often say, "Who's in your pocket? The OCC, of course." Positively, the OCC, which is under new management, did join CFPB in this action.

Comments

The method that will work the best will depend on if the book you
want is protected by DRM. The sites mentioned here provide basic templates
that can be used for both personal and commercial publications, but
aren't always readily compatible with online publishers. A thought in this substance, produces the thing that is imaged by the thought.

Also visit my website; <a href="http://www.relationshipsca.org/blog/2011/10/healthy-relationships-califo... pdf ebook download</a>

Relieves many different types of pain - Nopalea with its anti oxidant Betalain helps relieve pains including somatic and visceral pains. http://nopaleasupplement.wordpress.com/2013/05/03/cactus-claims-pose-pri...

Hello! This is my 1st comment here so I just wanted
to give a quick shout out and say I really enjoy reading through
your posts. Can you recommend any other blogs/websites/forums that cover the same subjects?
Thanks a ton!

Here is my blog <a href="http://www.buyhcg123.net">hcg injections</a>

Absolutely composed written content , thankyou for entropy.
http://meethornywifes.com wife personal photos

South Africa is brimmed with the excitement and joy of World Cup and if you want to be a core fan of any team then it is time to know about the best teams. I would prefer Spain due to many reasons which will convince you also.
http://rosie.besaba.com/alfamart-official-partner-merchandise-piala-duni...
http://maskodoq.blogspot.com/2013/07/CiptoJunaedy.html
http://maskodoq.blogspot.com/2014/03/unit-link-terbaik-di-indonesia.html
http://etnisjawa.blogspot.com/2013/08/apakah-cipto-junaedy-bohong.html
http://rosie.besaba.com/situs-online-terbaik-terpercaya/

I have recently started a blog, the info you provide on this site has helped me greatly. There is obviously a lot to know about this. I think he did some good things in features also. Keep working, great job! Thanks for a very interesting blog. What else can I get that kind of information written in such a perfect approach? I have a company that I'm simply now operating on, and I've been on the look out for such information.
http://www.seoedan.com/2014/04/abcbolacom-agen-judi-bola-terpercaya.html
http://www.seoedan.com/2014/03/itucasino.html
http://www.seoedan.com/2014/03/itubola.html
I have recently started a blog, the info you provide on this site has helped me greatly. There is obviously a lot to know about this. I think he did some good things in features also. Keep working, great job!
http://www.seoedan.com/2014/03/afatogelcom-bandar-terbesar-situs-togel.html
http://www.seoedan.com/2014/04/eyangtogelcom-togel-singapura-togel.html
http://lashoraslentas.blogspot.com/2014/03/itudominocom-judi-domino-agen...

thanks Just wanted to give a quick shout out and say that I genuinely enjoy reading your articles. You have given more than visitors expectancy. This post is very helpful, edifying and in addition cool thoughts on the topic. Kuliner Balikpapan | Cap Kaki Tiga, Setia, Manfaat juga Alfamart official partner merchandise FIFA piala dunia Brazil 2014 | Hotel Murah di Jakarta dan Alfamart official partner merchandise FIFA piala dunia Brazil 2014 , Hotel Murah di Jakarta

The method that will work the best will depend on if the book you
want is protected by DRM. The sites mentioned here provide basic templates
that can be used for both personal and commercial publications, but
aren't always readily compatible with online publishers. A thought in this substance, produces the thing that is imaged by the thought.

Also visit my website Interesting post and thanks for sharing. |http://vo.to/IDRCOMAGENTEXASONLINEINDONESIA | http://vo.to/agenbolapromo | http://vo.to/itunetAGENJUDIDOMINOONLINEINDONESIATERPE |

Berita terkini hari ini http://www.liputan6.com di Liputan6.com
kabar berita bola terbaru http://bola.liputan6.com/ hari ini Liputan6.com
berita terkini klasemen liga inggris hari ini http://bola.liputan6.com/kategori/liga-inggris hari ini
berita terbaru liga eropa http://bola.liputan6.com/kategori/liga-eropa hari ini
berita terbaru persik kediri http://www.liputan6.com/tag/persik-kediri/?channel=bola hari ini
berita harian persib bandung http://www.liputan6.com/tag/persib-bandung hari ini
berita terkini mitra kukar http://www.liputan6.com/tag/mitra-kukar hari ini

I'm impressed, I must say. Very rarely do I come across a blog that's both informative and entertaining, and let me tell you, you've hit the nail on the head. Your blog is important; the issue is something that not enough people are talking intelligently about.
http://dewa338a.com/

The method that will work the best will depend on if the book you
want is protected by DRM ?? kunci tebak gambar android , download video youtube di android, download film the raid 2 Bluray

Every passing day creating more difficulties to card holders to protect their identity. From last few years a constant increase in online frauds creating trouble to shop online. Some of organizations like wells Fargo, Chase, trusted id, and Life lock identity theft protection working to make internet a more safer place for users so they can enjoy the freedom over there.

Thanks for the update man. Thanks a lot for keeping us up to date and I am looking forward for more updates. I'll bookmark this. -buy real vine likes

Your article is very exciting and informational. I am trying to decide on a career move and this has helped me with one aspect. Thank you so much
http://hargahandphone-2014.blogspot.com
http://hargahandphone-2014.blogspot.com/2014/01/spesifikasi-dan-harga-lg...

thanks Just wanted to give a quick shout out and say that I genuinely enjoy reading your articles. You have given more than visitors expectancy. This post is very helpful, edifying and in addition cool thoughts on the topic http://ytlikes.com

Thanks for everything Ed, I appreciate what you are doing
Your Friend
Janet
http://www.hartransplantation.biz/

Payment protection products generally only "promise" to pay your minimum balance, and then only for a year, if you are laid off, disabled, sick or otherwise unable to pay your card. Consumer advocates receive numerous complaints that banks find loopholes or exceptions allowing them to refuse to make even these modest minimum payments in most cases. Payment protection costs a lot but is of little value.

http://hargahandphone-2014.blogspot.com/2014/01/harga-lenovo-k900-hp-and...
http://hargahandphone-2014.blogspot.com/2014/01/harga-apple-iphone-5c-ip...
http://hargahandphone-2014.blogspot.com/2014/01/harga-samsung-galaxy-not...
http://hargahandphone-2014.blogspot.com/2014/01/harga-samsung-galaxy-tab...
http://hargahandphone-2014.blogspot.com/2014/01/spesifikasi-dan-harga-lg...

I have recently started a blog, the info you provide on this site has helped me greatly. There is obviously a lot to know about this. I think he did some good things in features also. Keep working, great job! Thanks for a very interesting blog. What else can I get that kind of information written in such a perfect approach? I have a company that I"m simply now operating on, and I"ve been on the look out for such information.
http://www.seoedan.com/2014/03/bisnis-online-dan-peluang-usaha-terbaik.html
http://goo.gl/6Du9vL
http://www.seoedan.com/2014/04/itudomino.html
http://goo.gl/5Rw9kG
http://goo.gl/NvDCfi
http://www.seoedan.com/2014/04/globalbola.html
http://goo.gl/Bv5HNP
http://www.seoedan.com/2014/04/ligadaun.html
http://goo.gl/rWpFgu
http://goo.gl/LTwuVQ
http://puanguerraagoraenoticia.blogspot.com/2014/03/abcbolacom-agen-judi...
http://lashoraslentas.blogspot.com/2014/04/ligadauncom-agen-taruhan-bola...
http://www.seoedan.com/2014/03/bisnis-online-dan-peluang-usaha-terbaik.html

Your article is very exciting and informational. I am trying to decide on a career move and this has helped me with one aspect. Thank you so much

Harga Nokia X

Relieves many different types of pain - Nopalea with its anti oxidant Betalain helps relieve pains including somatic and visceral pains.
http://hargahandphoneqyu.blogspot.com/

I have recently started a blog, the info you provide on this site has helped me greatly. There is obviously a lot to know about this. I think he did some good things in features also. Keep working, great job!
http://www.seoedan.com/2014/04/ligadaun.html
http://goo.gl/rWpFgu
http://goo.gl/LTwuVQ
http://lashoraslentas.blogspot.com/2014/04/ligadauncom-agen-taruhan-bola...
http://www.seoedan.com/2014/03/bisnis-online-dan-peluang-usaha-terbaik.html

Your article is very exciting and informational. I am trying to decide on a career move and this has helped me with one aspect. Thank you so much. source: Android APK

best website to watch video is youtube and especially if it's about minecraft installation..

One of the nation’s largest medical debt-collection companies is under fire in Minnesota for having placed its employees in emergency rooms and other departments at two hospitals and demanding that patients pay before receiving treatment, according to documents released Tuesday by the Minnesota attorney general. [...] “Patients are harassed mercilessly,” a hospital employee told Ms. Swanson. Another hospital dumpsdeal employee complained, “We were told if we don’t get money from dumpsdeal patients, in the emergency room, we will be fired.” http://www.dumpsdeal.com

Pages

Priority Action

Tell your elected officials: Please protect my right to know, and support GMO labeling.

Support Us

Your donation supports U.S. PIRG’s work to stand up for consumers on the issues that matter, especially when powerful interests are blocking progress.

Consumer Alerts

Join our network and stay up to date on our campaigns, get important consumer updates and take action on critical issues.