Tag: Credit and Loans

Displaying 21 - 40 of 511 results.

Pages

Filtering by content type: Blog Post

Yellowstone – the majestic national park – is known for Old Faithful, roaming bison, and vistas to take your breath away. According to a 2020 FTC complaint, Yellowstone – the merchant cash advance provider – was unfaithful to its promises, buffaloed small business owners, and made...
The FTC’s long-standing Holder Rule requires businesses to include a special notice in credit contracts that gives consumers certain protections. Today, a Staff Note reiterates the Commission’s determination that the Rule applies regardless of the size of the transaction – and...
Equal access to credit based on non-discriminatory criteria is an essential component of economic opportunity and a fair marketplace. The Equal Credit Opportunity Act prohibits creditors from denying credit based on a host of discriminatory criteria, including race, religion, national...
For people who were looking to run their own businesses, the lesson of the FTC’s proposed $2.1 million proposed settlement with Las Vegas-based Seed Consulting, LLC, is that neither their future nor their fortune was in the cards – credit cards, that is. The defendants’ modus operandi...
Fraudsters have concocted a new COVID-related scam and this time they have businesses in their sights. According to reports, business owners are getting emails that appear to be about government-sponsored loan programs. But they’re really phishing messages trying to trick people into...
For people dealing with student loan debt – your employees, a family member, or maybe you – the CARES Act gives emergency grants to qualifying borrowers. But like other financial assistance programs, consumers need to know key details up front.
What’s in a name? According to an FTC lawsuit filed in April, if you’re an outfit that uses the name “SBA Loan Program” – and you falsely claim to be an approved lender for the Small Business Administration’s coronavirus relief lending program – what’s in your name is deception. Under...

Filtering by content type: Press Release

Federal Trade Commission Acting Chairwoman Rebecca Kelly Slaughter issued the following statement regarding today’s decision from the U.S. Supreme Court in the matter of AMG Capital Management LLC v. FTC:
Yellowstone Capital, a provider of merchant cash advances, will pay more than $9.8 million to settle Federal Trade Commission charges that it took money from businesses’ bank accounts without permission and deceived them about the amount of financing business owners would receive and other features...
The staff of the Federal Trade Commission has issued a note correcting previous staff guidelines on the FTC’s Trade Regulation Rule Concerning Preservation of Consumers’ Claims and Defenses—commonly known as the Holder Rule.
The owners and operators of a vast payday lending scheme that overcharged consumers millions of dollars will be permanently banned from the lending industry under the terms of a settlement with the Federal Trade Commission. The settlement also provides that nearly all outstanding debt—made up...
The Federal Trade Commission is sending more than $1.7 million to people who lost money to a debt relief scheme that targeted individuals trying to pay down their student loan debt.
The staff of the Federal Trade Commission has provided the Consumer Financial Protection Bureau (CFPB) an annual summary of its activities enforcing the Equal Credit Opportunity Act (ECOA).
Two Nevada companies and two individuals have agreed to stop charging consumers thousands of dollars to apply for multiple credit cards in their names in order to pay for expensive and often ineffective training programs under a proposed settlement of a Federal Trade Commission lawsuit.
The Federal Trade Commission has taken action against a debt collection company that allegedly placed bogus or highly questionable debts onto consumers’ credit reports to coerce them to pay the debts. Under a settlement with the FTC, the company, Midwest Recovery Systems (Midwest Recovery), is...
The Federal Trade Commission has sent a warning letter to a company that markets financial aid prep assistance to post-secondary students, notifying the company that it could potentially be misleading consumers about access to a coronavirus relief program.
The Federal Trade Commission is sending refunds totaling nearly $1.5 million to individuals who were affected by allegedly unlawful financing and sales practices by Bronx Honda.
The Federal Trade Commission is sending refunds totaling nearly $150,000 to individuals who lost money to a company called Grand Teton Professionals, which operated a bogus credit-repair scheme.
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 pandemic.
Globex Telecom, Inc. and an affiliated company will pay a total of $1.9 million to settle Federal Trade Commission and State of Ohio charges that they facilitated a scheme that peddled bogus credit card interest rate relief, illegally charging consumers millions of dollars. The settlement marks the...

Pages