Consumer Protection Financial Bureau orders Discover Bank to refund $16 Million to consumers and pay a $2.5 Million million penalty.
-Overstated minimum amount due on Billing statements
-Misrepresented the amount of student loan interest paid on its website.
-Illegally called consumers excessively early in the morning and late at night.
-Engaged in illegal collection tactics. Discover acquired a portfolio of defaulted loans from Citibank but did not comply with proper consumer noticing required by Law.
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consumer finance.gov