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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsPresident Obama's Consumer Financial Protection Bureau Pick, Richard Cordray, Kicking Ass
24 September 2012
America's sixth-largest credit card issuer has agreed to pay $200m (£123m) in refunds to settle accusations it misled customers into add-on services.
Discover Bank will also pay a $14m fine, after regulators said it enrolled clients in schemes such as credit monitoring, without consent.
It is the third public enforcement action taken by the Consumer Financial Protection Bureau (CFPB).
More than 3.5 million customers are to receive refunds.
The investigation found "Discover's telemarketing scripts contained many misrepresentations, implying that these products were free of charge and simply 'added benefits'," CFPB director Richard Cordray told reporters.
read more: http://www.bbc.co.uk/news/world-us-canada-19707697
northoftheborder
(7,574 posts)WCGreen
(45,558 posts)He first ran for statewide office back in 1998. I was the Treasurer of the local democratic party here in Cleveland. When he was up here campaigning, he would spend his down time helping out around the office, stuffing envelopes, working with the people, talking on the phones.
He was running, I believe, for State Treasurer. The plan was for him to ge exposure to all the 88 counties so he could run for AG in 2002 and have a step up on the competition.
He was always very nice, hard working and late at night, he had a wicked sense of humor.
I met a lot of candidates who were already looking down the road before they even won their first state-wide campaign.
BTW, he is a five day winner on Jeopardy.
thanks for the perspective, WC.
ChoppinBroccoli
(3,784 posts)I follow Richard Cordray's political career very closely because he's one of the few politicians I actually know and know to be a good person. My wife works at the Ohio Attorney General's Office, so she had a chance to get to know him as well. We were both dismayed when he lost the Attorney General's Office to that worm DeWine.
I know that he's doing a great job performing a job that is sorely needed in Washington, but I still have a sneaking suspicion (hope) that Cordray will come back to Ohio in 2014 and boot K-Suck out of the Governor's mansion. If it's not him, I don't know who it would be.
WCGreen
(45,558 posts)I think Ed Fitzgerald, the county executive here in Cuyahoga, just might test the water but I think he would rather get some more executive experience on his resume. He is very sharp and has a bright future. He very "ernest" when he first came on the scene, but he has relaxed and seems to be a natural pol.
ChoppinBroccoli
(3,784 posts)The way Ted Strickland has been going (making appearances everywhere), I wonder if he's considering running again.
Another name that sprung to mind was Jennifer Brunner (who I also know from her days as a Franklin County Common Pleas Court Judge).
Anyone but Lee Fisher.
I don't know who it will be, but I'm reasonably certain that WHOEVER runs against K-Suck will win easily. His little foray into union-busting is going to spell the end of his political career in Ohio.
tridim
(45,358 posts)Someone should ask him.
SpartanDem
(4,533 posts)Kinda makes crap like this look silly now:
At the end of his remarks, Obama turned to Warren and kissed her on the cheek. She smiled gamely, though if there are kisses a woman can do without, this was one of them. A Judas kiss, some would say. But if so, the betrayal was not just of Elizabeth Warren.
http://www.vanityfair.com/politics/features/2011/11/elizabeth-warren-201111