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Published: Thursday, 7/19/2012

Capital One to pay $210M over add-on fees

BLADE STAFF AND NEWS SERVICES

WASHINGTON -- Capital One Bank will pay $210 million to settle U.S. charges it tricked credit-card customers into buying costly add-on services such as payment protection and credit monitoring.

Most of the money will go to customers led to believe the services were free or mandatory or offered more benefits than they did, officials said. The order against Capital One is the first enforcement action by the Consumer Financial Protection Bureau, set up a year ago to protect consumers from excessive or hidden fees and other financial threats.



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