Monthly Archives: June 2014

GE Capital Fined Record Amount for Discrimination

GE Capital Fined Record Amount for Discrimination

GE Capital, recently renamed Synchrony Bank, has been in double trouble with the Consumer Financial Protection Board (CFPB). The CFPB recently took action against GE Capital regarding their deceptive practices involving their debt reduction credit card add-on products and illegal discrimination. Details on the results of CFPB’s investigation into GE’s marketing practices can be found in GE Capital Fined for…

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GE Capital Fined for Deceptive Marketing

GE Capital Fined for Deceptive Marketing

The Consumer Financial  Protection Bureau (CFPB) has been busy again fining credit card issuers who misled consumers about credit card add-on products.  Synchrony Bank (the newly renamed consumer finance division of GE Capital) became the sixth such bank found to have used deceptive marketing practice related to credit card add-ons in the last two years.  They are joined on this…

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P.F. Chang’s Uses Old Technology to Battle Data Breach

P.F. Chang’s Uses Old Technology to Battle Data Breach

P.F. Chang’s restaurants has gone retro with credit card processing in light of the data breach that they revealed last week. The chain of Chinese restaurants is working with the Secret Service and forensic data analysts to determine the extent of the breach. What is known so far is that credit and debit card numbers were stolen from individual locations…

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