Rep. Cummings Issues Statement on DOJ, OCC Settlement Against Capital One for Violating the Rights of Servicemembers

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July 26, 2012
Press Release

FOR IMMEDIATE RELEASE                                                                                    
July 26, 2012

                                                              
Washington, DC (July 26, 2012)—Congressman Elijah E. Cummings, as the top democrat on the House Committee on Oversight and Government Reform, issued a statement today in response to an announcement by the Department of Justice and the Office of the Comptroller of the Currency of a settlement requiring Capital One Bank to pay approximately $12 million in damages to servicemembers for violating the Servicemembers Civil Relief Act (SCRA).  The agreement covers wrongful foreclosures, wrongful automobile repossessions, wrongful court judgments, and inflated interest rates on credit cards, car loans, and other types of accounts.  Thousands of servicemembers will be identified and compensated going back to July 15, 2006, with no action required on their part.

Click here to read the statement on the Committee website.

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Issues: 
Veterans