WASHINGTON, July 26 (Reuters) - Capital One Financial Corp will pay ${esc.dollar}12 million to settle cases where the bank violated credit protections guaranteed by law to members of the U.S. military, according to a settlement filed in court on Thursday.
The settlement covers a wide array of conduct, including improper foreclosures and credit-card interest rates that were above the 6 percent allowed for certain service members.
Capital One and U.S. authorities said in a consent order that a bank-ordered independent review identified some of the violations, which date from 2006 to 2011.
The ${esc.dollar}12 million will be distributed among at least 4,000 service members, Thomas Perez, the assistant U.S. attorney general for civil rights, said in a conference call with reporters.
The agreement comes the same month that Capitol One became the first company to be fined by the Consumer Financial Protection Bureau. The bureau ordered the bank to pay ${esc.dollar}210 million for allegations its call-center representatives misled consumers.
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