GE unit to refund customers $34 million over deceptive practices

CareCredit customers were misled about healthcare credit cards

Published: December 10 2013 | 11:53 am - Updated: 29 March 2014 | 12:41 am in
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WASHINGTON, Dec 10 (Reuters) - The U.S. consumer bureau on Tuesday ordered General Electric Co's GE Capital Retail Bank and one of its subsidiaries to refund up to $34.1 million to customers who it said were misled about healthcare credit cards.

The Consumer Financial Protection Bureau said GE Capital Retail Bank's CareCredit unit signed up consumers for credit cards they thought were interest-free but were actually accruing interest that could kick in at the end of a promotional period.

CareCredit, which offers personal lines of credit for health-care needs, could not be immediately reached for comment.

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