(From NewsGroup: mtl.general,alt.toronto,tor.general,misc.consumers)
he public regulators, and enforcement agencies of the Banking act,
namely the Financial Consumer Agency of Canada, are currently
investigating MBNA Canada Bank h p://www.mbnacanada.com business
practices for several reasons:
1 - fraudulent NHL sweatshirt promotions, whereby new customers
signing
up for MBNA Canada Mastercards never see their signup prize even after
7 months as MBNA customers and account holders;
2 - fraudulent and illegal interest rates on cash advances from ATM's,
whereby MBNA Canada Bank charges regularly upto 90% annual interest
on those amounts.
3 - In addition to a Financial Consumer Agency of Canada
investigation, a class action lawsuit has begun again MBNA Canada,
in regards to which MBNA Canada consumers who have been victims, can
sign up for compensation:
http://www.paliareroland.com/classaction_mbna.asp
and/or
http://www.koskieminsky.com/ClassAction/MBNA_Canada_Bank/RegistrationForm.htm
4 - potential illegal and fraudulent disclosure of customer
information,
originally from upto 20,000 alumni accounts nation-wide in Canada to
third parties,
namely to a telemarketing company called Memberworks inc, including:
cardholder names, cardholder address, cardholder phone number,
cardholder account number, last date of purchase information,
account open date, account balance, credit limit, credit insurance
status, social security number, year-to-date finance charge,
ATD transaction account, card type (classic or gold), brand,
number of plastics (number of cards), date of birth, cash advance
amount,
behavior score, bankruptcy score, date of last payment,
amount of last payment, date of last statement. An important point, is
that
specific party has in the past 5 years, been ordered to pay fines in
excess
of USD $10 million dollars to Attorney-Generals in USA for
telemarketing fraud
and violations of the consumer protection act.
5 - the unauthorized and unethical (albeit technically, legal)
transfer of all ROYAL BANK
alumni affinity accounts nation-wide in Canada, from Royal to MBNA
Canada Bank
numbering, affecting upto 20,000 VISA/MASTERCARD alumni, all educated
with
a bachelor's degree or higher. Clearly, unethical and unauthorized
conduct for MBNA Canada
Bank is not a problem. Hence, consumers can safely assume the
corporate governance
at MBNA Canada Bank is not at the top of the agency.
There you have it, folks!
Now you know what to deal with, when you sign up for MBNA Canad Bank.
he public regulators, and enforcement agencies of the Banking act,
namely the Financial Consumer Agency of Canada, are currently
investigating MBNA Canada Bank h p://www.mbnacanada.com business
practices for several reasons:
1 - fraudulent NHL sweatshirt promotions, whereby new customers
signing
up for MBNA Canada Mastercards never see their signup prize even after
7 months as MBNA customers and account holders;
2 - fraudulent and illegal interest rates on cash advances from ATM's,
whereby MBNA Canada Bank charges regularly upto 90% annual interest
on those amounts.
3 - In addition to a Financial Consumer Agency of Canada
investigation, a class action lawsuit has begun again MBNA Canada,
in regards to which MBNA Canada consumers who have been victims, can
sign up for compensation:
http://www.paliareroland.com/classaction_mbna.asp
and/or
http://www.koskieminsky.com/ClassAction/MBNA_Canada_Bank/RegistrationForm.htm
4 - potential illegal and fraudulent disclosure of customer
information,
originally from upto 20,000 alumni accounts nation-wide in Canada to
third parties,
namely to a telemarketing company called Memberworks inc, including:
cardholder names, cardholder address, cardholder phone number,
cardholder account number, last date of purchase information,
account open date, account balance, credit limit, credit insurance
status, social security number, year-to-date finance charge,
ATD transaction account, card type (classic or gold), brand,
number of plastics (number of cards), date of birth, cash advance
amount,
behavior score, bankruptcy score, date of last payment,
amount of last payment, date of last statement. An important point, is
that
specific party has in the past 5 years, been ordered to pay fines in
excess
of USD $10 million dollars to Attorney-Generals in USA for
telemarketing fraud
and violations of the consumer protection act.
5 - the unauthorized and unethical (albeit technically, legal)
transfer of all ROYAL BANK
alumni affinity accounts nation-wide in Canada, from Royal to MBNA
Canada Bank
numbering, affecting upto 20,000 VISA/MASTERCARD alumni, all educated
with
a bachelor's degree or higher. Clearly, unethical and unauthorized
conduct for MBNA Canada
Bank is not a problem. Hence, consumers can safely assume the
corporate governance
at MBNA Canada Bank is not at the top of the agency.
There you have it, folks!
Now you know what to deal with, when you sign up for MBNA Canad Bank.
