Progressive Leasing, which offers rent-to-own programs at major retailers like Best Buy and Lowe’s, has agreed to pay $175 million to settle allegations it misled consumers, the Federal Trade Commission said Monday.
- What trade violations did the complaint allege?
- Why did FTC Commissioner Rebecca Kelly Slaughter say that the settlement did not go far enough?
- What is the deceptive line that retailers are instructed to tell consumers about the leasing program?
- How do you think Progressive should account for the one-time application fee of $79?
Bhattarai, A. (2020). Progressive Leasing will pay $175 million to settle FTC charges that it misled consumers. The Washington Post, April 20 (Retrievable online at https://www.washingtonpost.com/business/2020/04/20/progressive-leasing-ftc-fine/)