Tag: Credit and Loans

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The staff of the Federal Trade Commission has provided the Consumer Financial Protection Bureau with an annual summary of its activities enforcing the Equal Credit Opportunity Act.
Following a public comment period, the Federal Trade Commission has approved a final consent order with SoFi, resolving allegations that it misrepresented how much money student loan borrowers have saved or will save from refinancing their loans with the company.
The Federal Trade Commission moved to add two new defendants to an ongoing case against a California-based student debt relief operation shuttered pursuant to a court order obtained by the Commission in November 2018.
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...
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...
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.
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...
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.
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...
The Federal Trade Commission has charged the LendingClub Corporation with falsely promising consumers they would receive a loan with “no hidden fees,” when, in actuality, the company deducted hundreds or even thousands of dollars in hidden up-front fees from the loans.
Three marketers who allegedly sold phony debt relief services, including fake loans, have agreed to be banned from selling debt relief, credit repair and financial products and services, to be banned from telemarketing, and to turn over assets worth approximately $35 million dollars, under...
A new Staff Perspective, a paper by the Federal Trade Commission’s Bureau of Consumer Protection, examines financial issues that can affect military consumers, including servicemembers, veterans, and their families, when they are purchasing and financing a car, dealing with debt collectors, or...
Cowboy AG, LLC, a Dallas, Texas, company doing business as Cowboy Toyota and Cowboy Scion (Cowboy Toyota), has agreed to settle Federal Trade Commission charges that it deceptively advertised loan and leasing terms in ads placed in a regional Spanish-language newspaper.
The Federal Trade Commission has obtained a court order against two men for their roles in an alleged scheme that lured consumers with fake rental property ads and deceptive promises of “free” credit reports into signing up for a costly credit monitoring service. The two settling defendants will...
WHAT:The Federal Trade Commission (FTC) will hold a workshop on July 19, 2017 in San Antonio, Texas, to examine financial issues and scams that can affect military consumers, including a
The Federal Trade Commission has announced the agenda and speakers confirmed to date for its upcoming workshop in San Antonio, Texas on July 19, 2017, a forum on financial issues and scams that can affect military consumers, including active duty servicemembers in all branches and veterans.
At the request of the Federal Trade Commission and the State of Florida, a federal court has temporarily halted a massive phony debt relief operation that bilked tens of millions of dollars from financially strapped consumers, including the elderly and disabled.
The staff of the Federal Trade Commission has provided the Consumer Financial Protection Bureau with an annual summary of its activities enforcing the Equal Credit Opportunity Act (ECOA).

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