Press release

Curacao Prevails in California Attorney General Lawsuit Over Its Curacao Credit Protection Product

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Curacao prevailed in the most important claim brought by the California Attorney General’s office related to its Curacao Credit Shield (CCS), formerly called AGP, its credit protection product, which helps thousands of customers. The court deemed it legal.

The Los Angeles Superior Court judge wrote, “As the Court has found that selling AGP/CCS is not unlawful, no restitution or civil penalties are ordered for that practice.”

Curacao Credit Shield is a credit protection program similar to those offered by banks, credit unions and credit card companies. Curacao introduced these protections to aid its customers, who often have a unique need to establish credit in a world where life without it can be truly burdensome and overwhelming. By offering a gateway to establish and maintain good credit, Curacao customers can successfully navigate the U.S. credit-based economy.

The court found technical violations of the insurance code relating to a separate product the company is no longer offering, issued by a 3rd party insurance company. The judge issued a determination of financial penalties, charging $25 for every instance, far less than the maximum allowable amount of $2,500. His calculations cover a 10-year period amounting to approximately $7.9 million dollars. Curacao disagrees with the decision, amount and calculations and is expected to appeal. The company is committed to fighting for the continued protection of its customers.

As a company, Curacao is glad to have prevailed in great part in this matter brought by the California Attorney General’s office and looks forward to bringing final closure to a five-year-old case.

Curacao is committed to continuing its focus on what’s most important — its customers.

The company has taken many proactive steps to ensure every customer has an impeccable experience every single day at Curacao. For Curacao, there is nothing more important than delivering the highest level of service and customer satisfaction. In this spirit, the company has enacted many customer-centric initiatives, including:

  1. Advocating strongly for customer education. Last year, it premiered a financial education hub with dozens of short videos designed to explain complex financial concepts in simple everyday terms, both in English and Spanish.
  2. Continuing its “price and interest beat guarantees” to ensure its customers are always getting the best interest rate they qualify for, and the best deal on any item sold in-store or online.
  3. Introducing a Customer Advocacy team, whose sole job is to investigate any protocols, processes or policies that are not in keeping with its overall mission for great service and customer-first support.
  4. Expanding initiatives to support numerous non-profit organizations.

For over 40 years, Curacao has been an essential part of the Southwestern states’ community, offering millions of customers a gateway to establish and maintain access to credit and top brands, online and in its department stores in California, Nevada and Arizona.