Synchrony Avoids CFPB Enforcement Action Over Marketing Practices

The Consumer Financial Protection Bureau has decided not to bring an enforcement action against Synchrony Financial Inc. related to marketing practices, the bank said in a Feb.11 securities filing.

The Stamford, Conn.-based company said that it received a Jan. 15 notice that the CFPB’s enforcement division recommended against taking action following a probe of Synchrony’s marketing and servicing of deferred interest rate promotions on credit cards.

Synchrony, which partners with retailers and other companies to provide branded credit cards, received a civil investigative demand in May 2017 over its marketing and servicing practices. The CFPB gave Synchrony a ...