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Capital One Fined for Deceptive Marketing Tactics

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Capital One Fined for Deceptive Marketing Tactics

A US regulator has fined the credit card provider Capital One for misleading millions of customers into buying unnecessary products.

Consumers were deceived to pay for extras such as payment protection and credit monitoring when they took out a card.

Capital One has agreed to refund two million customers and to pay a fine of USD 210m to settle the case.

Ryan Schneider, president of Capital One’s card business said agents were responsible, but that the company would take responsibility for their actions: “We are accountable for the actions that vendors take on our behalf.”

“These marketing calls were inconsistent with the explicit instructions we provided to agents for how these products should be sold. We apologize to those customers who were impacted and we are committed to making it right,” he said in a statement.

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Capital One Fined for Deceptive Marketing Tactics

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