Business Services Industry
Minnesota Officials Accuse Circuit City, Zales of Misusing Credit Insurance.
Knight Ridder/Tribune Business News, November, 2001
By Sheryl Jean, Saint Paul Pioneer Press, Minn. Knight Ridder/Tribune Business News
Nov. 16--The Minnesota Department of Commerce on Thursday accused two national retailers, Circuit City and Zales, of misrepresenting credit insurance and selling it to Minnesota consumers without their knowledge.
Minnesota Commerce Commissioner Jim Bernstein called the sales practices a "widespread" problem.
Circuit City, the large Richmond, Va.-based electronics retailer, has agreed to pay a $335,000 civil penalty without admitting or denying any guilt. No settlement has been reached with Zales, the Irving, Texas-based jewelry store chain with 20 stores in Minnesota.
Retailers, banks, finance companies and others sell credit insurance as part...
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