GE's Synchrony faces two probes

|By:, SA News Editor

GE's (GE) retail credit business, now called Synchrony Financial, is the subject of probes by the Consumer Financial Protection Bureau (CFPB) and the Department of Justice.

The CFPB investigation involves "debt-cancellation products" and Synchrony's marketing of those services. The DOJ inquiry, which is also connected to the CFPB, relates to the company not printing Spanish-language copies of settlement notices for delinquent clients, an oversight that could be a breach of lending-discrimination rules.

It's not clear what fines Synchrony may face.