Advanta Settles "Deceptive and Unfair Practices" Charge for $35 Million

Advanta agreed to pay $35 million in restitution to small business cardholders who saw their APRs jacked up unfairly, in a settlement announced by the FDIC. The agreement also covers small business customers who signed up for cash-back rewards programs that made it “effectively impossible” for customers to get the advertised rewards.

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