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Discover Financial Services (DFS) says it's reached an agreement with the FDIC and CFPB to...
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Friday, September 21, 2012, 5:27 PM ETDiscover Financial Services (DFS) says it's reached an agreement with the FDIC and CFPB to resolve it's investigation into the marketing of certain credit protection products sold by telephone. The agreement requires DFS to refund approximately $200M to cardholders who purchased the products by telephone from December 2007 to August 2011 and calls for enhancements to it's marketing practices. The company will pay an additional $14M in civil monetary penalties to be split between the FDIC and the CFPB.
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