FleetCor enters $100M settlement

The Federal Trade Commission (FTC) has secured a $100 million settlement against FleetCor (now Corpay), a major provider of fuel cards and fleet payment solutions. This settlement addresses allegations that the company charged hidden fees and used deceptive marketing practices to lure in small business owners. For retailers and operators in the automotive and fleet services space, this is a loud warning bell regarding transparency in financing and payment agreements. The FTC focused on 'mystery fees' that were often buried in fine print or added without clear disclosure, significantly increasing the cost of credit for users. For your business, this underscores the importance of vetting your financing partners. If you offer fleet cards or branded credit solutions to your commercial customers, you must ensure the fee structure is crystal clear. Regulatory bodies are currently aggressive in policing 'junk fees' and deceptive billing cycles. This case specifically highlights that executives can be held personally liable, as the CEO was also named in the action. Ensure your payment partners aren't using 'bait-and-switch' tactics on fuel savings that are eventually eaten up by administrative fees. Transparency isn't just a legal requirement anymore; it is a critical component of maintaining customer trust in a high-scrutiny environment.

Source: Payments Dive

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