US, NY sue Sterling Jewelers over credit financing practices

Reuters
Updated

NEW YORK, Jan 16 (Reuters) - The U.S. Consumer Financial Protection Bureau and New York's attorney general on Wednesday sued Sterling Jewelers Inc, accusing the unit of Signet Jewelers Ltd of improper credit financing practices.

Sterling was accused of submitting credit applications and causing credit cards to be issued without consumers' knowledge or consent, misrepresenting credit financing terms and conditions, and enrolling consumers in payment protection insurance without their knowledge or consent.

The complaint was filed in Manhattan federal court. (Reporting by Jonathan Stempel in New York, Editing by Franklin Paul)