CompuCredit to pay $200 million
A U.S. bank regulator asked CompuCredit Corp., an Atlanta marketer of credit cards to sub-prime borrowers, and two banks to repay at least $200 million in fees and charges resulting from “deceptive” practices.
CompuCredit; First Bank of Delaware of Wilmington, Del.; and First Bank & Trust of Brookings, S.D., also are being asked to pay civil penalties of more than $6.6 million. They are accused of marketing sub-prime credit cards in violation of federal law, the Federal Deposit Insurance Corp. said.
Columbus Bank & Trust, a unit of Synovus Financial Corp. of Columbus, Ga., agreed to pay $2.4 million to settle FDIC claims.
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