Tag: Credit and Finance

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The Federal Trade Commission and Small Business Administration (SBA) sent warning letters to two companies that may be misleading small businesses seeking SBA loans as a result of the coronavirus pandemic.The letters are being sent to ITMedia Solutions, LLC (IT Media) and Lendio, Inc. (Lendio),...
The Federal Trade Commission is sending full refunds—totaling more than $12 million—to individuals who lost money to a company called I Works, which operated deceptive “trial” memberships and bogus government-grant and money-making schemes in 2010.
Small businesses and nonprofits should never be on the receiving end of another company’s deceptive practices. An FTC action challenges the methods of companies that allegedly pitch offers for “no risk” business publications and then follow up with hefty bills for unauthorized orders...
One of the biggest payment processing companies and its former executive will pay more than $40.2 million to settle Federal Trade Commission charges they knowingly processed payments and laundered, or assisted laundering of, credit card transactions for scams that targeted hundreds of...
As companies struggle to stay afloat financially due to the economic reverberations of COVID-19, your employees are facing the same challenges at home. The FTC has something you can share with staff members in need – and it won’t cost you a thing.
In these unprecedented times, the Commission is working on all fronts to stop pandemic-related scams or deception – and to warn consumers and businesses about them. But our work in other areas continues, too. Today, we’re taking a minute to take stock of some of the highlights from...
A Canadian company, RevenueWire, and its CEO, Roberta Leach, will pay $6.75 million to settle Federal Trade Commission charges they laundered credit card payments for, and assisted and facilitated, two tech support scams previously sued by the FTC.“Finding ways to get paid – without getting caught...
Some things have changed in the rent-to-own business, but a $175 million proposed settlement with Progressive Leasing reminds companies that bedrock consumer protection principles apply, especially the fundamental proposition that deceiving people about cost strikes at the heart of...
Progressive Leasing, a company that markets rent-to-own payment plans in tens of thousands of retail stores nationwide, will pay $175 million to settle Federal Trade Commission charges it misled consumers about the true price of items purchased through its plans.
The COVID-19 crisis has many small businesses on the ropes, so it’s unfortunate we have to warn them about another threat. According to a lawsuit just filed by the FTC, a Rhode Island company that goes by the name “SBA Loan Program” has been soliciting applications from small...
The Federal Trade Commission has charged a Rhode Island-based company and its owner with falsely claiming to be an approved lender for a federal coronavirus relief lending program and asked a federal court to immediately halt their misrepresentations.
A Rhode Island company and its owner will be permanently prohibited from misrepresenting they are affiliated with the U.S. Small Business Administration (SBA) as part of a settlement resolving Federal Trade Commission charges they misled consumers in the early days of the coronavirus...
For small businesses, there’s never been a time when “business as usual” has been so unusual. With many companies facing coronavirus-related challenges, the FTC has tips for business owners – and for those offering small business financing – about navigating today’s uncharted...
In May 2020, the FTC sued the operators of a Pennsylvania-based telemarketing scheme, alleging that they charged organizations such as businesses, schools, fire and police departments, and non-profits for books and newsletter subscriptions they never ordered. The agency’s complaint...
As a business owner, you’ve seen the headlines about financial relief that may be available to some companies through the Small Business Administration (SBA). But you’ve also heard about scammers who extract a grain of truth from the news and distort it in an effort to cheat small...

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