$210M Capital One Deal Sheds Light On CFPB's Rulemaking

Law360, New York (July 18, 2012, 7:39 PM EDT) -- The Consumer Financial Protection Bureau and other federal regulators on Wednesday reached a $210 million settlement with Capital One Financial Corp. over its allegedly deceptive credit card marketing, showing how the new agency plans to use enforcement tools to write industry regulations in novel ways.

While the CFPB has been active on the rulemaking front, the financial services industry has been waiting for some time for the agency's first enforcement action. There had been a great deal of concern that the CFPB would be aggressive in...
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