WASHINGTON -- The Federal Trade Commission said a Citicorp unit had agreed to settle charges it processed a company's credit card sales even when it knew or should have known about its deceptive sales practices.

The FTC said Citicorp Credit Services had processed the card sales of Credit Card Travel Services Inc. through its Citicorp Establishment Services, which it has since sold.

The agreement requires Citicorp Credit Services to investigate merchants with high charge-back rates and to terminate them if they are found to be engaging in fraudulent, deceptive, or unfair practices.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.