GE To Pay Up To $2M In NY Health Credit Card Settlement

Law360, New York (June 3, 2013, 2:17 PM EDT) -- General Electric Co. agreed to strengthen consumer protections on a health care credit card that charged interest rates as high as 27 percent and will pay up to $2 million in restitution to consumers as part of a Monday settlement with the New York attorney general's office.

An investigation by New York Attorney General Eric Schneiderman's office determined that many customers of CareCredit, a health care credit card issued by GE Capital Retail Bank, were pressured into signing up for the card by their health care...
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