Discriminatory Credit Practices

Financial crisis bank fines hit record 10 years after market collapse

Since the outbreak of the financial crisis in 2007, financial institutions have paid more than Qatar’s GDP in fines for their wrongdoings. As investigations and lawsuits continue, that number is expected to grow, $150 billion (127.6 billion euros) – that’s how much US authorities have collected in fines from financial institutions for shady dealings with subprime mortgages since the beginning of the credit crisis in 2007, according to research by the British...

GE Capital to Pay $225 Million

CFPB Orders GE Capital to Pay $225 Million in Consumer Relief for Deceptive and Discriminatory Credit Card Practices Nearly 750,000 Consumers Harmed by Illegal Credit Card Practices WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) is ordering GE Capital Retail Bank (GE Capital), now known as Synchrony Bank, to provide an estimated $225 million in relief to consumers harmed by illegal and discriminatory credit card practices. GE Capital...