Tuesday, October 9, 2012

American Express to Pay $112.5 Million in Fines & Refunds After Lying To Customers

It's over for the Credit Card conpanies debt protection "insurance" programs, yet this may be just the beginning.  Lets not forget all the credit card defaults from consumers who could never use this obscenely overpriced insurance program to protect themselves from default because the Credit Protection coverage was an unregulated ripoff.

Almost all credit card defaults from the past 15 years may need to be unwound since none of those consumers had access to a fairly priced debt suspension insurance program.

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