Colorado sued to block Kroger’s $24.6 billion acquisition of Albertsons in court Wednesday, becoming the second state to challenge the deal. Attorney General…
Colorado Files Lawsuit to Block Kroger-Albertsons Merger bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Colorado’s attorney general filed a lawsuit on Wednesday seeking to block Kroger's proposed $25 billion acquisition of rival supermarket chain Albertsons, saying consumers would be hurt, as the U.S. Federal Trade Commission and other states continue to scrutinize the deal. Attorney General Phil Weiser in a statement said the proposed transaction, first announced in 2022, “would lead to stores closing, higher prices, fewer jobs, worse customer service, and less resilient supply chains.” Kroger and Albertsons are two of Colorado's largest grocery chains, Weiser’s office said.
A settlement between the state of Colorado and Kansas-based debt collector TrueAccord will refund $500,000 to borrowers who defaulted on loans issued by tribal lending entities. According to the settlement, investigators found that, from 2017 to 2022, TrueAccord collected or attempted to collect on roughly 29,000 consumers who defaulted on loans issued by the tribal lenders. Most loans had interest rates over 500% APR, and some approached 900% APR—far greater than the 12% cap for unlicensed loans under Colorado law, according to a statement from the state’s attorney general.