This is an investigation and potential class action lawsuit against First Data Global Leasing and its parent company First Data Corporation in connection with its ongoing business and leasing practices.
Merchants have complained that First Data Global Leasing has engaged in some, if not all, of the following acts:
1. First Data Global Leasing allegedly continues to bill merchants after the end of the lease term.
2. First Data Global Leasing allegedly requires a merchant to pay a monthly charge for insurance on the equipment, when many merchants already have insurance.
3. First Data Global Leasing allegedly charges undisclosed and large implied interest rates on the equipment it leases.
4. First Data Global Leasing does not properly train its agents, who allegedly promise merchants that the merchant should ignore contractual terms as the lease can be cancelled at the Merchant's discretion.
5. First Data Global Leasing allegedly charges additional fees undisclosed to the Merchant.
6. First Data Global Leasing allegedly charges some of its merchants certain property taxes which are undisclosed in the equipment lease.
Name (Stock Symbol)
First Data Global Leasing
First Data Global Leasing provides leasing financing for point of sale terminals. It a wholly owned subsidiary of First Data Corporation.
First Data Corporation
First Data Corporation manufactures and sells point of sale solutions to merchants throughout the world.
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