Mealey's Banking & Finance - GE Capital To Pay $169 Million To Settle Credit Card Allegations

Mealey's Banking & Finance - GE Capital To Pay $169 Million To Settle Credit Card Allegations

WASHINGTON, D.C. - The Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) on June 19 announced a settlement to resolve allegations that GE Capital Retail Bank, known as of this month as Synchrony Bank, "engaged in a nationwide pattern or practice of discrimination by excluding Hispanic borrowers from two of its credit card debt-repayment programs," the federal government's largest credit card discrimination settlement ever, according to the DOJ (United States of America v. Synchrony Bank, formerly known as GE Capital Retail Bank, No. 14-0454, D. Utah).

Find full version on lexis Advance®
Access this news story on lexis.com®