![]() The FDIC will audit the banks' refund efforts. Cardholders may be due a refund for more than one violation. The misstatements often occurred when cardholders were transferred to third-party salespeople after calling to activate their cards, the FDIC said. The order also states that the banks must clearly explain all the requirements that cardholders must meet in order to receive account credits or gift cards that are promoted as incentives to enroll in Account Assure. Promising gift cards or account credits for enrolling in the program.Assuring customers fee refunds would be issued to those who canceled coverage within 30 days. ![]() Telling customers they wouldn't be charged a fee if they didn't carry a balance.Victorias Secret Credit Card Accounts are issued by Comenity Bank. The FDIC says the Comenity units violated the Federal Trade Commission Act by falsely: We will refund this fee if you close your Account within 30 days of the mailing or delivery date of the statement on which the fee appears. Purchases do not include returns, refunds or credit adjustments, balance transfers, cash. Youll just need your cards number and expiration date. You can usually activate your credit card online in a few minutes. Refunds will begin after the FDIC approves a refund plan to be submitted by the company within 30 days. Activation is important for your account security and lets us know you received the card. People with a current account should receive a statement credit, while others should receive a check by mail, the FDIC said. The violations occurred between January 2008 and September 2014. "Consumers who are eligible for relief under the settlement are not required to take any action to receive restitution," the FDIC announcement said. Consumer Financial Protection Bureau, the two Comenity units stood behind about 150 store cards as of the first quarter of 2014. ![]() According to documents on file with the U.S. The banks, units of Alliance Data Systems Corp., back cards from niche retailers ranging from Abercrombie and Victoria's Secret to Zgallerie. ![]()
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