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AG: Banks ‘slamming’ customers with fees

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Posted: Friday, April 19, 2013 9:00 pm | Updated: 12:11 am, Sat Apr 20, 2013.

Attorney General Gary King is accusing eight of the nation’s largest banks of deceptive marketing of protection plans for credit-card holders — a practice known as “slamming.”

Eight separate civil lawsuits filed in state District Court this week say the banks violated the New Mexico Unfair Practices Act by charging credit-card customers about $100 a year for “ancillary products” that often were useless to them.

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3 comments:

  • guero posted at 1:13 pm on Sat, Apr 20, 2013.

    guero Posts: 14

    Guess who's running for Governor, and wants free campaign publicity. THis is actually a national issue or else why is the lead attorney from Arkansas? Just like Bill R. who gave California state bond business. This stinks.

     
  • Pat Shackleford posted at 9:23 am on Sat, Apr 20, 2013.

    Pat Shackleford Posts: 387

    So does the state legal staff do the investigating and then hand it off to a private law firm to collect the money? Sounds like a private firm will get the settlement (penalty?) money and consumers will get the satisfaction of knowing the AG can read a prepared statement while his pals in private practice rake the big bucks. Citizen consumers get zilch. When he's not letting public officials off the hook from charges of misconduct and malfeasance, he's handing over settlement money to cronies/campaign contributors. Sounds like a Democratic governor in the making allright.

     
  • SantaFe7 posted at 6:52 am on Sat, Apr 20, 2013.

    SantaFe7 Posts: 11

    Why would AG hire a Plaintiff's litigation firm to "settle" a potential lawsuit? How much does the Plaintiff's firm get if they "settle?" $5k? Doubt it... Also, if they think there is an opportunity to "settle" why do they need a Plaintiff's firm to get involved? Why can't the AG use the lawyers that work for him? I thought we elected the Attorney General to fight for us, not Turner Branch. Why is he surrendering the authority the elected people of NM gave him to a big donor? And is the $5k just so that the AG can avoid putting this out to a Public Request for Proposal Process? This stinks like an insider you pat my back I'll send you cases to "Settle" deal. Booooooooo...

     
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