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(Reuters) – Discover Financial Services said its subsidiary, Discover Bank, will pay about $200 million to cardholders who bought certain credit-protection products over the phone, as part of an agreement with U.S. regulators.

The issuer of credit cards, which reached an agreement in principle with the Federal Deposit Insurance Corporation (FDIC) and Consumer Financial Protection Bureau (CFPB), will pay an additional $14 million in penalties to be split between the regulators.

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Discover Settlement

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.Click link below for story and video:

http://www.huffingtonpost.com/2012/09/24/discover-settlement-marketing-credit-protection-products_n_1908981.html?utm_hp_ref=money&icid=maing-grid7|myaol|dl4|sec1_lnk3%26pLid%3D210218

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