GE Capital fined $225M

|By:, SA News Editor

The Consumer Financial Protection Bureau has ordered GE Capital Bank (GE) to pay $225M to consumers "harmed by illegal and discriminatory credit card practices."

The payments will be split into two. $56M will be paid to 638k consumers for false advertising, and $169M will go to 108k borrowers that could not secure debt relief because of their national origin.

The fine is the biggest federal settlement for deceptive marketing and discriminatory practices.