Deluxe Corp subsidiaries settle FTC investigation; $4.9M payment expected to be indemnified

DELUXE CORP

First American Payment Systems, Eliot Management Group, and Think Point Financial entered consent order with FTC, neither admitting nor denying allegations.
Consent order requires $4.9 million payment to FTC within 7 days of entry, plus injunctive relief on marketing and billing practices.
Deluxe Corporation expects full indemnification of the payment under the acquisition agreement from the 2021 merger with FAPS Holdings.
Subsidiaries agreed to refrain from certain sale and debiting practices, maintain a compliance program, and make negative-option disclosures.

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