By Peter Schroeder - 09/24/12 02:46 PM EDT
“We have worked hard to earn the loyalty of our cardmembers, and we are committed to marketing our products responsibly,” said David Nelms, chairman and chief executive officer of Discover, in a statement. “As always, we will continue to strive to deliver the highest standards of customer service and satisfaction.”
In July, the CFPB, alongside the Office of the Comptroller of the Currency, levied a similar penalty against Capital One for its credit card marketing practices. For its deceptive marketing practices, Capital One had to pay $150 million to 2 million card customers, as well as pay a $60 million penalty.