In the federal government’s largest credit card discrimination settlement in history, GE Capital Retail Bank, now known as Synchrony Bank, will pay $225 million to credit card customers harmed by deceptive marketing or discrimination.
The Consumer Financial Protection Bureau and the U.S. Department of Justice charged the bank with deceptively marketing credit card add-on products that provided debt cancellation in the event of certain hardships, and discriminating against Hispanic customers by refusing to extend special offers to people who lived in Puerto Rico or preferred to communicate in Spanish.
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