Credit case gets Penney $225K fine

September 1996
WWD: Women's Wear Daily;9/25/1996, Vol. 172 Issue 59, p33
Trade Publication
Reports on J.C. Penney Co.'s settlement of charges that it violated federal credit card regulations by not explaining why customers were denied credit. Decision by chain to pay fine to avoid litigation; Regulation under Equal Credit Opportunity Act requiring banks to explain why applicants are denied credit.


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