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News article dated July 19, 2012:
http://adage.com/article/news/capital-hit-fine-actions/236178/
A year after the U.S. Consumer Financial Protection Bureau began operating as an independent agency, it brought its first enforcement case: a $210 million settlement with Capital One Financial Corp. for deceptive marketing.
The McLean, Virginia-based company didn't admit or deny wrongdoing.
We have found that these credit card companies do not even follow their own rules, as they expect the average consumer to be totally ignorant of the rules anyway. I suppose they are only following the example laid down by the IRS.