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Capital One Faces A Class Action over its Payment Protection Plan

Hartford, CN: A Connecticut woman has filed a federal class action against Capital One, alleging that the company violated the Truth in Lending Act and the Connecticut Unfair Trade Practices Act.

Specifically, Lisa Sullivan, who was enrolled in the Capital One Payment Protection program in 2007, tried to claim benefits of the plan when she was laid off in July 2009, however Capital One denied her. The balance on her card at the time was $547.96, while the limit on her card was $500. Consequently, Capital One charged her fees totally $92.48 for a $33.08 purchase. The fees were a $39 past due fee, a $10 Capital Pay Transaction fee, a $4.48 Payment Protection fee, and a $39 over the limit fee.

The suit, which could represent as many as 50,000 Capital One Cardholders in Connecticut, alleges that Capital One did not disclose that their Payment Protection program is a finance charge and that the minimum payment does not include all fees it imposes - including interest on the penalty fees.

Capital One Payment Protection Plan Class Action Legal Help

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Last updated on Jan-26-10