Kohl's settles with FTC following heafty fine

Kohl's Corp. (KSS) has agreed to pay 220,000 dollars to settle the U.S. Federal Trade Commission claims that the department store chain failed to give identity theft victims their complete transaction records.

In a complaint filed by the Department of Justice on behalf of the FTC, the Commission alleged that Kohl refused to provide information identifying the thieves to identity theft victims, despite the fact that the FCRA guarantees victims access to this information.

The FTC also alleges that the company failed to provide the information within 30 days, as required by the FCRA. The information sought by identity theft victims included records of sales made by the identity thieves using stolen personal information, along with the perpetrator's name and contact information.

"If someone stole your identity, it's your right to get the records related to the theft - and that's a right the FTC takes seriously," said Andrew Smith, Director of the FTC's Bureau of Consumer Protection. "This case is a warning to other companies: We will hold you responsible if you fail to give identity theft victims the required business records."(DPA)