Providers Benefit Co., et al.
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[ 6750-01 ] {Docket No. C-2911 ] PART 13— PROHIBITED TRADE PRAC TICES, AND AFFIRMATIVE CORRECTIVE ACTIONS Providers Benefit Co., Et Ai. AGENCY: Federal Trade Commission. ACTION: Order to cease and desist. - SUMMARY: In settlement of alleged violations of Federal law prohibiting un fair acts and practices and unfair meth ods of competition, this consent order, among other things, requires a Philadel phia, Pa. consumer credit corporation and its subsidiaries to cease failing to provide consumers, in connection with the extension of credit, such material and disclosures as are required by Fed eral Reserve Board regulations; and to cease misrepresenting or failing to in form customers of the optional nature o f credit insurance. Further, the order requires firms to offer customers the op portunity to cancel such insurance and to make appropriate refunds as specified. DATES: Complaint and order issued November 8,1977.1 FOR FURTHER INFORMATION CON TACT:
Jack Dugan, Acting Director, New York Regional Office, Federal Trade Commission, 2243-EB Federal Bldg., 26 Federal Plaza, New York, N.Y. 10007, 212-264-1207.
SUPPLEMENTARY INFORM ATION:
On Wednesday, August 31, 1977, there was published in the F ederal R egister <42 FR 43864) a proposed consent agree ment with analysis In the Matter of Pro viders Benefit Co., Provident Consumer Discount Co., Inc., and Provident Credit Corp., corporations, and Frederick I. Robinson and George Billings, individ ually and as an officer of Provident Con sumer Discount Co., Inc. and Provident Credit Corp., for the purpose of solicit ing public comment. Interested parties were given sixty (60) days in which to submit comments, suggestions, or objec tions regarding the proposed form of order.
No comments having been received, the Commission has ordered the issuance of the complaint in the form contem plated by the agreement, made its juris dictional findings and entered its order to cease and desist, as set forth in the proposed consent agreement, in disposi tion of this proceeding.
1 Copies of the Complaint, and the Deci simi and Order, filed with the original docu ment.
The prohibited trade practices and/or corrective actions, as codified under 16 CFR Part 13, are as follows: Subpart— Corrective Actions and/or Re quirements : § 13.533 Corrective actions and/ or requirements: 13.533-20 Disclosures; 13,- 533-25 Displays, in-house; 13.533-37 Formal regulatory and/or statutory requirements; 13.533-45 Maintain records; 13.533-55 Re funds, rebates and/or credits. Subpart— Mis representing Oneself and Goods— Goods:
5 13.1623 Formal regulatory and statutory re quirements;
13.1623-95 Truth in Lending Act; § 13.1760 Terms and conditions; 13.1760- 40 Insurance coverage; 13.1760-50 Sales eontract— Prices: § 13.1823 Terms and condi tions; 13.1823-20 Truth in Lending Act. Sub part— Neglecting, Unfairly or Deceptively, to Make Material Disclosure: § 13.1852 Formal regulatory and statutory requirements; 13.- 1852-75 Truth in Lending Act; § 13.1905 Terms and conditions; 13.1905-40 Insurance coverage; 13.1906-50 Sales contract; 13.1905- 60 Truth in Lending Act. Subpart— Offering Unfair, Improper and Deceptive Inducements to Purchase or Deal: § 13.2080 Terms and conditions; 13.2080-40 Insurance coverage. (Sec. 6, 38 Stat. 721; (15 U.S.C. 46). Inter pret or apply sec. 5, 38 Stat. 719, as amended; 82 Stat. 146,147; (15 fL&C. 45,1601, et seq.).) C arol M . T h o m a s, Secretary.
[FR Doc.77-35635 Filed 12-14-77;8:45 am]