Violation Tracker Individual Record

Company: 
Capital One Bank (U.S.A.), N.A.
Current Parent Company: 
Capital One Financial
Penalty: 
$165,000,000
Year: 
2012
Date: 
July 18, 2012
Primary Offense: 
consumer protection violation
Secondary Offense: 
credit card violation
Violation Description: 

The Consumer Financial Protection Bureau ordered Capital One Bank (U.S.A.), N.A. to refund approximately $140 million to two million customers and pay an additional $25 million penalty. This action resulted from a CFPB examination that identified what the agency called deceptive marketing tactics used by Capital One's vendors to pressure or mislead consumers into paying for "add-on products" such as payment protection and credit monitoring when they activated their credit cards.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Consumer Financial Protection Bureau
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
Virginia
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.