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Volume 25 - Number 4

February 17, 2014

CFPB Paying Closer Attention to How Health-Care Credit Cards Work

Financial institutions that provide deferred-interest credit cards offered by health-care providers appear to be in the CFPB’s crosshairs, likely as a result of complaints from consumers. Earlier this month, the bureau posted a blog on its website spelling out four things it said consumers should know about health-care credit cards. “Recently, many patients facing medical procedures have seen their health-care providers suggest deferred-interest rate credit cards as a payment option,” the CFPB said. “Unfortunately, health-care providers...

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