On January 16, 2019, the Consumer Financial Protection Bureau and the New York Attorney General announced a settlement with a retailer for alleged violations of the Consumer Financial Protection Act of 2010 and the Truth in Lending Act, as well as New York State law arising out of the retailer’s sales practices for its store credit cards. As part of the settlements, the retailer is required to pay $10 million in civil money penalties to the CFPB and $1 million in civil money penalties to the State of New York.
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