Home Depot, GE Capital Settle Lawsuit Over Credit Card Charges
Depot, GE Capital Settle Lawsuit Over Credit Card Charges
is reporting today that Home Depot and GE Capital have agreed
to pay $672,000 to settle a Connecticut lawsuit accusing the
companies of deceptive credit card practices. At issue was whether
the Home Depot Consumer Credit Card's promise of a "no interest/no
payments" program had been broken when the cards charged
payments to the "no interest" portion of balances
instead of newer purchases without notifying cardholders.
the state and 8,000-plus Connecticut customers will receive
restitution in the settlement, although consumers will receive
small sums as their share of $322,000 while the state gets $350,000.
might be expected, Home Depot did not admit to wrongdoing, but
instead said it agreed to the settlement to avoid lengthy and
Published 04/28/06 (Modified 05/07/12)