FleetCor Agrees to $100M Settlement with FTC Over Alleged Deceptive Practices
FleetCor Technologies, now known as Corpay, has agreed to a $100 million settlement with the Federal Trade Commission (FTC) over allegations of deceptive business practices. The company and its CEO, Ronald Clarke, were accused of misleading small businesses by promising fuel savings while charging undisclosed fees through their fleet card services. These hidden charges reportedly cost customers hundreds of millions in total. A federal court approved the settlement after a multi-year legal battle that began with an FTC lawsuit filed in 2019. The FTC claimed FleetCor used false or unsubstantiated claims to attract clients, including promises about fraud protection and no setup fees. The company was also accused of obscuring costs by delaying fee disclosures across multiple billing cycles. In August 2022, a U.S. District Court ruled in favor of the FTC on all five counts against FleetCor, finding Clarke personally liable for deceiving customers. The settlement includes court-ordered restrictions that require Corpay to obtain explicit customer consent before imposing fees and prohibit deceptive marketing claims about its fuel cards. The ruling reflects broader regulatory scrutiny over corporate transparency and consumer protection in financial services.