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The CFPB has ordered GE Capital Retail Bank to pay the “largest credit card discrimination settlement in history,” $225 million, to compensate consumers for discriminatory and illegal credit card practices. The bureau found that GE Capital used deceptive marketing practices to promote add-on products, including deceiving customers as to their eligibility for benefits and not disclosing that customers were making a purchase. [6/27/14]
Complaints: Why you shouldn’t shun them, but invite them! In this era of exploding complaint volume, this certificated webinar (see instructions in video for how to get your free certificate of completion) takes a look at the risks, evolution, and need for a management strategy to effectively deal with complaints. Before that, we cover what’s hot in compliance, as seen by the editors of Risk InboX. This week’s hot items: 1) HUD cancels Obama era Fair Housing rule; 2) “HMDA” for boards and management; and 3) CFPB has added a new dimension to its complaint database. Click here to watch now.
What makes the patented AffirmX Risk Intel Platform different than anything else out there? Take the next 3 minutes to see what this revolutionary tool can do for your financial institution. Watch Video