Update: Travel + Leisure to Pay $975,000 in SEC Settlement Alleging Misleading Disclosures

02:19 PM EDT, 09/30/2026 (MT Newswires) -- (Updates with company statement in fifth paragraph.) Travel + Leisure (TNL) agreed to pay a $975,000 civil penalty as part of a settlement with the US Securities and Exchange Commission over allegations that it presented a materially misleading picture of its timeshare loan portfolio performance, the commission said Wednesday. Under the settlement, the company did not admit to any of the allegations in the complaint. According to the complaint, from October 2019 to February 2021, Travel + Leisure made misstatements and omissions about two projects under which it removed thousands of customer timeshare loans that were already seriously past due or in default from its loan portfolio, materially improving its publicly disclosed loan loss provision and loan loss provision percentage. The proposed final judgment would also permanently enjoin the company from violating the securities laws and regulations cited in the complaint, the commission said. In an emailed statement to MT Newswires, Travel + Leisure said that the resolution of the issue was a "practical business decision" made in the best interests of the company and its shareholders. "We continue to believe that the Company's disclosures were appropriate and that no one at Travel + Leisure acted improperly," a company spokesperson said. The company's shares were down 2.7% in Wednesday afternoon trading. Price: 62.30, Change: -1.68, Percent Change: -2.63