The CFPB has ordered the Kentucky-based Fort Knox National Company and its subsidiary, Military Assistance Company, to pay $3.1 million in relief to service members who were charged undisclosed fees.
The CFPB said the recurring fees totaled $100 or more.
"Fort Knox National Company and Military Assistance Company enrolled service members without adequately disclosing their fees, and then charged service members without telling them," CFPB Director Richard Cordray said on Monday. "As a result, service members paid millions of dollars in fees, probably without even knowing it. Today we are taking action and others should take note."
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