GE card unit to pay $225 mln to consumers over deceptive card practices

WASHINGTON, June 19 Thu Jun 19, 2014 12:59pm EDT

WASHINGTON, June 19 (Reuters) - General Electric's credit card unit must pay $225 million to consumers over discriminatory and deceptive practices, U.S. authorities said on Thursday.

The U.S. Consumer Financial Protection Bureau and the Justice Department said the unit, which GE has filed to spin off as a separate company and recently changed its name to Synchrony Bank, neither admitted nor denied the findings. (Reporting by Emily Stephenson, Editing by Franklin Paul)

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