FLEETCOR Closes Out Chapter in FTC Case - Fleetcor Technologies (NYSE:FLT)
FLEETCOR Technologies, Inc. FLT, today announced that it received the anticipated court order in the FTC marketing practices and disclosure case. As expected, the court order limits its injunctive relief to FLEETCOR's fuel card business in the United States.
The order requires FLEETCOR to implement a set of disclosure practices, such as crediting customer payments on receipt date or providing notice to customers in advance of receiving a new fee. As previously disclosed, FLEETCOR has voluntarily implemented multiple disclosure enhancements to improve the customer experience.
FLEETCOR intends to comply with the order, as required by the court. FLEETCOR reiterates that we believe the implementation of this order will not be material to the company's financial performance.
"We're pleased to close out this chapter of the FTC case," said Ron Clarke, Chairman and CEO of FLEETCOR Technologies, Inc. "We remain committed to industry-leading transparency and offering our customers compelling products and services that provide significant value to help them run their businesses."