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Four Banking Companies Pay Nearly $8M in Settlement

West Virginia's Attorney General went after the banking companies who allegedly were unlawfully selling credit card protection plans to West Virginia consumers.
CHARLESTON, W.Va. - West Virginia's Attorney General recently announced a nearly $8 million settlement with four banking companies. 

Attorney General Patrick Morrisey, from Jefferson County, went after the companies who allegedly were unlawfully selling credit card payment protection plans to West Virginia consumers. 

The four companies will pay nearly $2 million each to settle the suits. The companies include Bank of America, JP Morgan Chase, Citi Bank and GE Money Bank. The state is still pursuing suits against Discover Financial Services, HSBC and World Financial Network Bank. 

"We're never going to tolerate systems where a bank or credit card company comes in and unwittingly signs people up," said Morrisey (R). 

Some of the settlement money will be used to fund the Consumer Protection Division. Additional money will also be returned to the State Legislature. 
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