Protecting the Rights of Consumers
For Over 25 Years
It is reported that Synchrony Bank is under investigation by the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency for its deferred interest practices. Consumers are promised deferred interest for, e.g., 2 years. Consumers who pay the loan in full within that period pay no interest. Consumers who do not pay the loan in full within that period are charged interest in such a manner as to result in an unexpectedly large balance at the end of the 2 years.
Synchrony issues the CareCredit (medical, dental, veterinary expenses), Amazon and PayPal cards.