Federated reached an agreement with the FTC.

Under the agreement, Federated Department Stores said that, when it rejects credit applicants because of information from a credit reporting agency, it will tell the consumers and supply them with the names and addresses of the credit agencies that it contacted. The agreement, which is binding on all Federated stores, stems from Federal Trade Commission charges against Foley's, a Federated division operating 14 stores in Texas. Federated operates stores under a variety of names across the nation, including Bullock's and I. Magnin in California.

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