‘Fee-Harvester’ Credit Cards Misrepresented Charges, Hit Consumers With Excessive Fees
WASHINGTON, D.C. –-(ENEWSPF)–February 4, 2015. Today, the Consumer Financial Protection Bureau (CFPB) ordered Continental Finance Company LLC, a subprime credit card company based in Delaware, to refund an estimated $2.7 million to approximately 98,000 consumers who were charged illegal credit card fees. The agency found that the company’s “fee-harvester” subprime credit cards misrepresented certain fees and hit consumers with illegal charges. The order also requires…
