Jewelry stores make $11M settlement over credit practices
NEW YORK (AP) - Officials say some well-known jewelry stores that promote sparkling romance engaged in credit practices that consumers might not love.
New York Attorney General Letitia James and the Consumer Financial Protection Bureau announced Wednesday an $11 million settlement with Ohio-based Sterling Jewelers Inc.
The settlement involves several brands, including Kay Jewelers and Jared The Galleria of Jewelry.
It resolves claims that consumers were signed up for store credit cards and enrolled in credit insurance without their knowledge or consent. It also says the terms of store cards were misrepresented.
Sterling's parent company, Signet Jewelers Ltd., disagrees with the allegations but decided to avoid the time and expense of legal proceedings.
The company says it's using the occasion to "reaffirm the transparency and fairness" of its credit-related policies.
Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
South Padre Island fisherman passes away after contracting flesh-eating bacteria
McAllen family concerned with tall grass in neighboring property
Gov. Abbott’s executive order faces pushback from Biden administration
‘Part of a legacy:’ Son of slain Texas trooper graduates from DPS...
Lawsuit filed against United Irrigation District over unknown pipe