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“Capital One’s egregious failures allowed known criminals to use and abuse our nation’s financial system unchecked, fostering criminal activity and allowing it to continue and flourish at the expense of victims and other citizens,” Blanco said. “These kinds of failures by financial institutions, regardless of their size and believed influence, will not be tolerated.”
minor cost of business, they spend that much every month on advertising
Yet us law-abiding citizens have to kinda play hell with them for everything else; my experiences have been both a blessing and curse.
It's ironic or scary how big banks get away with stuff like this. If me or you did this we would be in Federal Prison for decades but when the big banks do it they get "slapped on the wrist" and a small fine relative to there annual profit margins. It's crazy.
Put Capital One fined into your favorite internet search engine you will see a long list. After they were fined last year I made a decision to close all of my accounts with them. Soon as the last account matures it is gone I can get better rates else where. I will not be a Capital One customer directly or indirectly ever.
@AndySoCal wrote:Put Capital One fined into your favorite internet search engine you will see a long list. After they were fined last year I made a decision to close all of my accounts with them. Soon as the last account matures it is gone I can get better rates else where. I will not be a Capital One customer directly or indirectly ever.
That's because fines only punish those who can't afford them. They're nothing more than a nuisance for a company the size of Capital One.
Well in old old day fines were a way to get said offenders into some kind of indentured service, which was ultimately made up of the poor commoners because obviously the rich could pay their fines.
There I was thinking the apr reductions on hold were because of the Pandemic....and all the other perks that flew out the 2020 window as well. Who knows?
So is it US or THEM paying this fine? (let me guess)