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How a major bank cheated its customers out of $2 billion

Popular Information: “An explosive new lawsuit filed by the Consumer Financial Protection Bureau (CFPB) alleges that Capital One bank cheated its customers out of $2 billion. According to the lawsuit, Capital One deceived and abused its depositors, baiting them with promises of high interest rates before switching the terms and paying little interest. The CFPB claims that Capital One purposefully hid the truth about these accounts from customers and concealed the availability of a new product that paid much higher interest.”

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