TeleCheck Services, Inc., one of the nation’s largest check authorization service companies, along with its associated debt collection firm, TRS Recovery Services Inc., have agreed to pay $3.5 million to settle Federal Trade Commission charges that they violated the Fair Credit Reporting Act.  

The penalty matches the second-largest ever obtained by the FTC in an FCRA case. Earlier this year, another check authorization company, Certegy Check Services Inc., agreed to pay a $3.5 million fine to settle FTC allegations similar to those made against TeleCheck.

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