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They just don't learn

July 18th, 2012 at 12:49 pm

NEW YORK (CNNMoney) -- In its first public enforcement action, the Consumer Financial Protection Bureau announced it is fining Capital One Bank for pressuring and misleading two million customers into buying additional products when they opened their credit card accounts.

The bank will refund roughly $140 million to customers and pay an additional $25 million penalty to the CFPB for using deceptive marketing tactics, the government's consumer watchdog said Wednesday.

This is the new bureau Obama created, the one fought so vociferously by the banks, who claimed they could "police ourselves."

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