Company Overview of GE Capital Retail Bank
GE Capital Retail Bank provides retail banking and credit services to consumers, businesses, merchants, and retailers in the United States and internationally. It offers retail sales finance, such as private label credit card programs, installment lending, bankcards, and financial services for consumers, retailers, manufacturers, and health-care providers, as well as offers financing programs to dealers, retailers, associations, contractors, and service providers. The company also provides retail consumer financing solutions, such as private label credit cards, dual card, flex loans, and all-tender loyalty and gift cards; and business credit services, including business process outsourcing o...
170 West Election Road
Draper, UT 84020
Founded in 1988
Key Executives for GE Capital Retail Bank
President and Chief Executive Officer of Europe
Chief Executive Officer for Americas
Chief Executive of Retail Sales Finance -Americas and President of Retail Sales Finance -Americas
Chief Executive Officer of Central and Eastern Europe and President of Central and Eastern Europe
Compensation as of Fiscal Year 2013.
GE Capital Retail Bank Key Developments
Consumer Financial Protection Bureau Orders GE Capital Retail Bank and its subsidiary, CareCredit to Refund $34.1 Million for Deceptive Health-Care Credit Card Enrollment
Dec 10 13
Consumer Financial Protection Bureau ordered GE Capital Retail Bank and its subsidiary, CareCredit, to refund up to $34.1 million to potentially more than 1 million consumers who were victims of deceptive credit card enrollment tactics. At doctors' and dentists' offices around the country, consumers were signed up for CareCredit credit cards they thought were interest free, but were actually accruing interest that kicked in if the full balance was not paid at the end of a promotional period. The CFPB found that service providers misled some consumers during the enrollment process by not providing adequate guidance clearly laying out the terms of the deferred-interest loan. CareCredit's limited involvement during the enrollment process and lack of oversight and monitoring allowed this deception to continue. Many consumers did not receive copies of the actual CareCredit agreements and instead had to rely only on the oral explanations given by the service provider or office staff. Many consumers were enrolled on the belief that it was an interest-free card, and did not understand that they were actually agreeing to a deferred-interest product with a 26.99% interest rate. Many staff members in the health-care offices, who were responsible for explaining the CareCredit agreement to borrowers, had received little or no training by CareCredit, and relied only on pamphlets.
GE Money Reports Consolidated Earnings Results for the Nine Months 2013
Nov 11 13
GE Money reported consolidated earnings results for the nine months 2013. For the period, net profit of group was sank by 17.9% to CZK 2.8 billion. Total consolidated revenues reached CZK 9.9 billion. The year on year fall by 5.28% was caused by falling interest margins on deposits and lower interest in consumer loans. The bank's decision to cancel some fees also affected the figure.
GE Capital Retail Bank and Ritani Announce a Multi-Year Agreement to Provide Private Label Credit Card Program
Jul 23 13
GE Capital Retail Bank and Ritani announced a multi-year agreement to provide a branded private label credit card program for jewelry customers. GE Capital's Retail Finance business, the operating entity that provides financial solutions to retailers and dealers to help grow their customer sales, will manage the relationship and service the account. An online application will be available at Ritani.com, providing cardholders with extended terms and special financing promotions on purchases. Ritani cardholders can also access and manage their account with a suite of digital tools, including the online Consumer Center and mService, a mobile servicing platform available on iOS, Android, Blackberry and Windows devices.
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