On October 30, New York Attorney General Eric T. Schneiderman announced an agreement with a credit card servicer and marketer to resolve allegations that the servicer failed to disclose upfront fees in its direct mail marketing materials. According to Attorney General’s office, the servicer failed to disclose a $125 “off-the-top first year fee” for a low-limit card product, which effectively reduced the card’s credit limit from $500 to $375. Under the terms of the agreement, the servicer is required to improve the disclosures in its direct mail marketing and issue refunds of the $125 fee to affected New York consumers.