FTC DROPS SUIT AGAINST DILLARD’S
NEW YORK — The Federal Trade Commission has dismissed a lawsuit it initiated against Dillard Department Stores in 1994 claiming Dillard’s made it too tough for customers to get unauthorized charges removed from their accounts.
Little Rock, Ark.-based Dillard’s said in a statement that the procedures the FTC claimed were unreasonable are “clearly not prohibited under the guidelines recently issued by the staff of the Federal Reserve Board, the only agency authorized by Congress to interpret the Truth in Lending Act.”
Dillard’s said the same practices are used by other retailers.
Dillard’s said it spent a “significant” amount of money and incurred “substantial damage” to customer relations as a result of the FTC action. — Fairchild News Service