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Capital One challenged on increasing “fixed” interest rates
Thursday, July 22, 2010
Reuters: A federal appeals court in California reinstated a lawsuit against Capital One, after the company more than doubled the interest rate it charged a cardholder who thought she had a “fixed” APR. Reporter Jonathan Stempel quoted plaintiffs attorney Behram Parekh as saying, “Consumers were being misled by having the word ‘fixed’ in their agreements, when the card company could change the terms at will.”
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Tags: credit, credit cards;
Category: In The News;