Sears Credit Card Holders v Sears Holdings Corp.
Certain Sears Credit Card Holders Entitled to Discount Coupons
As many as 2.3 million former Sears credit cardholders will receive discount coupons from Sears Holdings Corporation under a settlement filed by the retailer, according to several published reports.
The settlement pertains to a lawsuit brought by former Sears credit cardholders that accuses Hoffman Estates, IL-based Sears of violating the Fair Credit Reporting Act by pulling credit data when there was no permissible purpose, according to the reports.
The settlement was approved August 16, 2005 in Riverside, California federal court.
Sears will give discount coupons of $10 to $15 to individuals whose credit data the retailer retrieved after it had closed and sold their accounts, the reports said. The filing reportedly indicates that as many as 2.3 million people may be entitled to participate in the settlement.
A spokesman for Sears told reporters that the company settled to avoid costs of further litigation and admitted no wrongdoing.
The settlement involves individuals with Sears accounts that were closed and sold to collection agencies between Oct. 1, 2002, and May 31, 2003, and whose credit information the retailer obtained.
