Capital One Bank has agreed to refund two million of its customers $140 million over allegations that it used deceptive marketing tactics to pressure or mislead customers into buying add-on products, the Consumer Financial Protection Bureau announced today. The bank and credit-card lending company will also pay a $25 million penalty.
This is the consumer watchdog agency's first public enforcement action.
In the documentary Fixing the Future, reporter David Brancaccio traveled across America to talk to people who are working to reinvent the American economy. Through innovative approaches to creating jobs and wealth — like time banking, worker cooperatives, local currencies and community banking — Americans are rethinking how we measure prosperity and calculate GDP.
NPR's Jennifer Ludden talks with Brancaccio about new experiments in the economy of the future.
If Ben Bernanke is frustrated by the economy, as he seems to be, he might look at a recent issue of The Economist magazine. Editors there see enough strength that they saw fit to print an illustration of Uncle Sam as a bare-chested muscleman.
STEVE INSKEEP, HOST:
Let's talk about that and more with regular guests on this program, Zanny Minton Beddoes of The Economist. Welcome back to the program.
ZANNY MINTON BEDDOES: Nice to be here.
INSKEEP: And David Wessel of The Wall Street Journal. Hi, David.
This next story is for people who go for old-school technology. If you're the kind of person who owns a tube television - not one of those flat screens - nothing wrong with that. Or maybe you're the kind of person who has an old Walkman with cassette tapes hiding in a drawer somewhere. Maybe you even still use it. And if you're holding on to technology that others have deemed obsolete, you are not alone.
Reporter Tracey Samuelson found some dated devices in a place that might surprise you.
And the nation's homebuilders are feeling more optimistic than they have since March, 2007, just before the beginning of the Great Recession. What's more, the National Association of Home Builders' Housing Market Index has posted its largest one-month gain in roughly a decade.
NPR's Wendy Kaufman reports.
WENDY KAUFMAN, BYLINE: David Crowe, the chief economist at the Home Builders Association says things are definitely looking up. It's a trend that began last September.