New York attorney expands investigation into health credit cards
Attorney General Andrew Cuomo has announced that he will expand the investigation into health credit cards.
Cuomo spoke out against the health credit cards last week and has since ordered a number of additional companies to give evidence to support the legality of their health credit cards.
Cuomo was asked to investigate the health credit cards because a large number of consumers complained that they had been cajoled into signing up for a credit card by their doctor or dentist, only to find that they received bills with huge amounts of interest added. Many patients added that they were unaware that they were signing up for a credit card. Cuomo also said that he felt doctors and dentists were targeting vulnerable patients in order to make more money for themselves; they receive payments for each patient they treat so getting a patient to sign up for a care credit card can potentially be very lucrative.
Last week, ten providers were issued with subpoenas by Cuomo and this week four more providers have been asked to provide information; the corporations involved include Citi Bank, GE Money and JP Morgan.
The investigation into health credit cards is set to continue for a lengthy period of time; Cuomo wants to hear from fourteen health card providers but this number may increase as the investigation continues.
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