2 banks to pay W.Va. $4 million in credit lawsuit - WVVA TV Bluefield Beckley WV News, Weather and Sports

2 banks to pay W.Va. $4 million in credit lawsuit

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  CHARLESTON, W.Va. (AP) -- Two banking companies have agreed to pay the state about $4 million to settle a lawsuit claiming they used deceptive tactics to sell credit card protection programs to customers.
   West Virginia Attorney General Patrick Morrisey announced Tuesday that Discover Financial Services and HSBC Finance Corp. agreed to pay $1.95 million each in the settlement.
   Morrisey says thousands of West Virginians entered into credit card payment protection programs without knowing they had done so, were charged extra fees and then had trouble reaping the benefits.
   Morrisey's office announced similar settlements in September with Bank of America Corp., JP Morgan Chase & Co., Citibank/Citigroup Inc. and GE Money Bank.
   The lawsuits were filed in 2011 before Morrisey took office.

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