Capital One Investor Sues Over Credit Card Marketing

Law360, New York (November 2, 2012, 5:58 PM EDT) -- Capital One Financial Corp. directors should be held accountable for allowing the bank to engage in deceptive credit card marketing that led to $210 million in penalties, according to a shareholder derivative suit filed Friday.

Thirteen directors, including McLean, Va.-based Capital One's CEO Richard D. Fairbank, should reimburse the company after allowing a “myriad of deceptive practices” to take root in its credit card marketing, shareholder Kim Barovic said in her complaint.

Capital One call center workers allegedly pressured low-income cardholders into purchasing two add-on credit...
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