Capital One To Pay $12M For Service Member Credit Violations

Law360, Washington (July 26, 2012, 7:40 PM EDT) -- Capital One Financial Corp. has agreed to pay $12 million to settle allegations that it violated credit protections granted to U.S. military members via improper home foreclosures, vehicle repossessions and credit rate denials, the U.S. Department of Justice announced Thursday.

The DOJ brought the suit on behalf of service members in Virginia federal court this year, alleging Capital One violated the Servicemembers Civil Relief Act from July 2006 to November 2011. According to the agency, it's one of the most comprehensive settlements ever obtained under the...
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