General Electric unit to refund customers $34 million over deceptive practices

The U.S. consumer bureau on Tuesday ordered General Electric Co's GE Capital Retail Bank and one of its subsidiaries to refund up to $34.1 million to customers who it said were misled about healthcare credit cards.

The Consumer Financial Protection Bureau said GE Capital Retail Bank's CareCredit unit signed up consumers for credit cards they thought were interest-free but were actually accruing interest that could kick in at the end of a promotional period.

CareCredit, which offers personal lines of credit for health-care needs, could not be immediately reached for comment.

Copyright: Thomson Reuters 2013