A company that processes rebates for major retailers is responding to a lawsuit filed by the State of Iowa claiming the company is pocketing rebates instead of turning them over to consumers. Young America vice president for shareholder Relations, Roger Anderson , says this is something that has gone on for three years.
Anderson says a company called Affiliated Computer Systems has been trying to find companies that’re withholding rebates. He says A-C-S has represented about 45 states that have sought to audit Young America’s records. Anderson says his company has filed a lawsuit in federal court to try and stop the action of the states, saying they’re not a holder of unclaimed property.
Anderson says his company has been checked by two states and found to be doing business properly. He says they’ve been audited by Minnesota and Oklahoma and he says the department of treasury in both states examined their records and said they were not a holder of unclaimed property. Anderson says they’re simply a third-party fulfillment service provider that mails rebate checks for companies.
Anderson would not say if he thought some of the companies that hire Young America are withholding rebates. Anderson says, “We don’t take any position regarding our clients and we don’t offer them legal advice.” He says they’re simply stating their position that they aren’t holding any unclaimed property, and he says they leave it up to their clients to determine if the clients are withholding rebates. He says, “Many of those clients may already be remitting to the states for unclaimed property.” Iowa’s Treasurer says there are over 400-thousand dollars in unclaimed nationwide rebates due to Iowans.