Lawsuit Charges Capital One Ads Misled Customers
Caroline Mayer reports in the Washington Post on a lawsuit brought by the Minnesota attorney general against Capital One.
The ads suggest that Capital One's cards, unlike its competitors', would bear interest rates that remain at 4.99 percent, the lawsuit said. However, it alleged, for many consumers, the interest rates went up -- in some cases they could have increased to 25.9 percent -- if they were just a day late in paying their bills or if they exceeded credit limits.
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