Last week, the CFPB ordered Continental Finance Company, LLC, a subprime credit card originator, marketer and servicer based in Newark, DE, to refund approximately $2.7 million to consumers who were charged allegedly illegal fees. The bureau also imposed a $250,000 civil penalty on Continental. The CFPB alleged that Continental “engaged in deceptive acts or practices by making false statements regarding certain fees charged consumers in connection with credit cards,” and by “representing, expressly or impliedly, that certain security deposits consumers provided for certain credit cards” would be insured by the Federal Deposit Insurance Corp. The company also violated the Truth in Lending Act and its implementing Regulation Z by requiring some consumers to pay fees exceeding the 25 percent limit ...