The Minnesota attorney general is investigating whether Fingerhut Cos. Inc. improperly imposed late fees on customers after changing installment payments to a revolving credit plan, reports said.
Mike Hatch, the attorney general, is questioning whether Federated Department stores Inc. gave customers proper notice that they could incur late fees.
The decision to change to revolving credit occurred before Federated sold Fingerhut in 1999.
In early July, CompuCredit Corp. in Atlanta bought Fingerhut’s uncollected consumer debt of about $1.2 billion.
Partners Ted Deikel and Tom Petters finalized a deal to buy the Minnetonka, MN, assets of Fingerhut Cos. on July 24.
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