Tag: Credit and Finance

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The Federal Trade Commission has reached a partial settlement with the principal defendants in its case against the payday lending operation AMG Services Inc., resolving allegations that the defendants threatened consumers in debt collection calls and violated the Electronic Fund Transfer Act, or...
The world’s largest debt collection operation, Expert Global Solutions and its subsidiaries, has agreed to stop harassing consumers with allegedly illegal debt collection calls and to pay a $3.2 million civil penalty – the largest ever obtained by the Federal Trade Commission against a third-party...
Under a settlement with the Federal Trade Commission, a telemarketer who allegedly defrauded consumers with false promises of debt relief and charged them without their consent is banned from selling debt relief services, telemarketing, and making robocalls.
The Federal Trade Commission filed suit in federal court to halt a mortgage relief scheme that allegedly deceived and preyed on distressed homeowners by charging them $2,000 to $4,000 based on bogus foreclosure rescue claims.
At the request of the Federal Trade Commission, a U.S. district court has halted a debt collection operation that allegedly extorted payments from consumers by using false threats of lawsuits and calculated campaigns to embarrass consumers by unlawfully communicating with family members, friends,...
A federal judge has found in favor of the Federal Trade Commission in its case against an online operation that illegally debited consumers’ bank accounts when they visited the defendants’ websites seeking payday loans.  The FTC will seek a court order requiring the defendants to return more than...
The Federal Trade Commission has charged an operation that sells credit and debit card payment processing services to small businesses with violating federal law.  The defendants allegedly made false and unsubstantiated claims and failed to disclose material facts to storefront businesses and sole...
Thousands of consumers scammed out of their money will get some of it back, thanks to a lawsuit and settlement secured by the Federal Trade Commission.  The FTC has mailed 9,566 refund checks to consumers whose bank accounts were debited, allegedly without their consent, by Texas-based payment...
The Federal Trade Commission continued its crackdown on credit card rate reduction scams by adding eight new defendants to a case the agency brought last year, including a payment processor it alleges assisted in the fraud. The FTC filed an amended complaint against the defendants behind the firm...
As part of the Federal Trade Commission’s ongoing crackdown on payment processors that turn a blind eye to fraud, the agency sued a payment processing business that allegedly assisted and facilitated a telemarketing credit card interest rate reduction scam.
The Federal Trade Commission and Consumer Financial Protection Bureau are co-hosting a roundtable on June 6, 2013, and invite participants watching the webcast to submit questions to moderators online. FTC staff will live-tweet the workshop and take questions via Twitter, Facebook, and email.
The Federal Trade Commission and the Consumer Financial Protection Bureau will co-host a roundtable on June 6, 2013, to examine the flow of consumer data throughout the debt collection process. The event will bring together consumer advocates, credit issuers, collection industry members, state and...
The Federal Trade Commission has issued its annual letter to the Consumer Financial Protection Bureau (CFPB) on FTC enforcement and related activities regarding the Truth in Lending Act (TILA), Consumer Leasing Act (CLA), Electronic Fund Transfer Act (EFTA), and Equal Credit Opportunity Act (ECOA).
The Federal Trade Commission testified before a U.S. Senate Commerce subcommittee on a recent FTC study examining the accuracy of consumer credit reports, as well as the agency’s efforts to improve credit report accuracy through enforcement and education.
The Federal Trade Commission and the Consumer Financial Protection Bureau will co-host a roundtable on June 6, 2013, to examine the flow of consumer data throughout the debt collection process. The event will bring together consumer advocates, credit issuers, collection industry members, state and...
Consumer advocates, government officials and industry representatives will take part in a roundtable discussion on mobile cramming hosted by the Federal Trade Commission on May 8. Roundtable participants will discuss the practice of placing unauthorized charges on consumers’ monthly mobile phone...
The Federal Trade Commission has taken legal action to shut down an operation that allegedly took in millions of dollars from placing charges on consumers’ mobile phone bills, many of which were “crammed” or unauthorized charges.
Federal Trade Commission Chairwoman Edith Ramirez released the agency’s 2012-2013 Annual Highlights today at the Spring Meeting of the American Bar Association’s Section of Antitrust Law in Washington, D.C., recognizing the FTC’s continued efforts to protect consumers and promote competition.
After allegedly misleading consumers into paying unnecessary fees and falsely threatening consumers with lawsuits, defendants in a debt collection operation have agreed to settle Federal Trade Commission charges.
A payment processor and two of its principals are banned from processing electronic payments under a settlement with the Federal Trade Commission, which resolves charges that they debited, or tried to debit, millions of dollars from tens of thousands of consumers’ bank accounts without their...

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