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Providian Financial Corp.

The credit card company has agreed to a settlement in a class-action lawsuit. The suit stems from allegations that Providian wrongfully added various charges and fees to their customers' accounts. This is just one of many lawsuits filed against Providian for this reason. Previous to this settlement, the company had to pay government officials $305 million to settle charges laid against them. The class-action suit covers any Providian cardholder from March 19, 1995 to December 14, 2000. The settlement is to be split up among people, with the majority of the money going towards customers who bought health, travel or credit insurance, with the rest going to others who were charged with different fees. Despite the previous settlement, Providian still claims no responsibility for its actions. (June-25-01) [SAN FRANCISO BUSINESS JOURNAL]

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Published on May-3-05


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