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“For tracking litigation, enforcement, and regulatory developments, Compliance Week
should be your prime source.”- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
FDIC Hits Comenity Banks Over Deceptive Credit Card Add-Ons
The FDIC has settled with Delaware-based Comenity Bank and Comenity Capital Bank of Salt Lake City for deceptive practices relating to the marketing of credit card add-on products. Comenity Bank will pay a civil money penalty of $2 million and provide $53 million in restitution to harmed consumers. ...
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