On February 4, the CFPB announced a consent order with a Delaware-based credit card company, ordering the company to refund an estimated $2.7 million to approximately 98,000 consumers and pay a civil penalty of $250,000 for allegedly charging consumers illegal credit card fees. According to the consent order, the CFPB alleged the company charged customers fees during the first year after customers opened the account that exceeded the 25% credit limit imposed by the CARD Act. The CFPB further alleged that the company, offering the credit cards through a state-chartered credit union, misled customers about paper statement fees associated with their credit cards and falsely claimed that certain security deposits were “FDIC insured” when they were not. In addition to the refund to customers and civil penalty, the consent order requires the company (i) to refrain from charging fees that exceed 25% of a customer’s credit limit in the first year of the account and (ii) subjects itself to CFPB supervisory authority for the first time.