Corpay proposes $100 million resolution of FTC litigation

Corpay ($CPAY) agreed to a proposed $100 million settlement concerning Federal Trade Commission litigation over marketing and disclosures in its US vehicle-payments business. The company is not admitting wrongdoing. The arrangement would resolve the specified dispute, while a previously entered court order governing business practices remains in place.

The proposal still requires final FTC approval following a public-comment process, so it should not be treated as a completed regulatory settlement. Corpay said it does not expect a material effect on its ongoing operations or financial results. That assessment comes from management and is separate from the agreed payment amount. The announcement concerns historical marketing and disclosure issues, not the acquisition or disposal of a payments business.

Sources:

• Corpay — proposed FTC settlement, Business Wire