NY Attorney General subpoenas J.P. Morgan, Citi over 'predatory' health care credit cards Read more

[Jeffersons Ghost]

NY Attorney General subpoenas J.P. Morgan, Citi over 'predatory' health care credit cards

New York Attorney General Andrew Cuomo announced Monday he subpoenaed J.P. Morgan and Citigroup over "predatory health care lending" in their credit card units.

Last week, Cuomo subpoenaed 14 dental and health care providers that promote CareCredit, a credit card offered by GE Money, in response to hundreds of consumer complaints received by his office.

Cuomo alleged seniors and vulnerable patients are misled about financing and often pushed into debt, and that health care providers receive kickbacks based on how much business they generate for the cards.

“Patients are being misled into paying for services they never received by the people they should be able to trust the most – their doctors,” Cuomo said of the ongoing investigation.

Read more: http://www.nypost.com/p/news/local/credit_attorney_general_subpoenas_oVz1nlfi6Hwu5hr8md2uFL#ixzz0w8kALGyY

[aquart]

1. If Citi is in it, it's crooked.

[Scuba]

2. But we don't need regulation. That just makes it hard for them to do business....

Elizabeth Warren needed to head the new commission. Please

[Wilms]

3. k&r n/t