Tag: Credit and Loans

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The Federal Trade Commission alleged that a California-based student debt relief scheme bilked consumers out of millions of dollars using false promises that they could reduce their monthly payments, or eliminate or reduce their student loan debt.A federal court temporarily halted the scheme and...
Imagine a baseball scout is taking a look at a prospect. On paper, the slugger’s batting average seems impressive. But now imagine that, unbeknownst to the scout, those stats left out all the times the batter struck out. It’s an unrealistic hypothetical, of course, but it illustrates...
Online student loan refinancer SoFi has agreed to stop misrepresenting how much money student loan borrowers have saved or will save from refinancing their loans with the company, in order to settle Federal Trade Commission charges that it deceptively advertised inflated figures for more than two...
For consumers who took out loans with online payday lender AMG, the company’s illegal tactics left many of them saying OMG. But finally there’s good news for AMG customers arriving in the form of $505 million in refund checks just mailed to people who borrowed money between January...
The Federal Trade Commission, working jointly with the U.S. Department of Justice, is mailing 1,179,803 refund checks totaling more than $505 million to people who were deceived by a massive payday lending scheme operated by AMG Services, Inc. and Scott A. Tucker.
Thanks to a new federal law, free credit freezes and year-long fraud alerts are here, starting September 21st. What does that mean for your customers and employees? Free credit freezesSecurity freezes, also known as credit freezes, restrict access to a consumer’s credit file, making...
The Federal Trade Commission is mailing more than 430,000 checks totaling more than $10 million to people who could not access money deposited to their NetSpend reloadable prepaid debit cards. According to an FTC complaint, many NetSpend customers were unable to access their funds, either because...
Whether it’s a slimmer waist or an imaginary yacht superimposed in the background, we’re all familiar with the dramatic changes that retouching can make to a photo. A lawsuit the FTC has filed against Tate’s Auto Group and related companies alleges – among other things – that the...
The Federal Trade Commission testified today before the Senate Banking, Housing and Urban Affairs Committee that enforcement of the Fair Credit Reporting Act (FCRA) remains a top priority, and outlined the agency’s efforts to educate consumers and businesses about the law’s requirements.
When the legendary Patti Page sang, “How much is that doggie in the window?” she couldn’t have guessed that six decades later, the answer might depend on whether a consumer buys or leases a pet.
A federal judge has ordered Credit Bureau Center, LLC and its owner, Michael Brown, to pay more than $5.2 million to return to consumers, to resolve FTC charges that they deceived people with fake rental property ads and deceptive promises of “free” credit reports, and then tricked them into...
Federal Trade Commission Chairman Joseph Simons issued the following statement regarding the Justice Department’s plan to remit more than $500 million to the FTC for consumers who were harmed by a massive payday lending scheme:“We are very pleased that the Justice Department was able to recover...
It’s a given that companies shouldn’t charge consumers hidden fees. But it raises a particular concern when an online lender makes “No Hidden Fees” claims a centerpiece of its marketing – and then deducts from those loans hundreds or even thousands of dollars in hidden up-front fees...

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