Tag: Credit and Loans

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The Federal Trade Commission has continued its crackdown on illegal robocallers, with two more companies agreeing to settle charges that they used prerecorded calls to trick consumers into deceptive credit card interest rate reduction scams.
At the request of the Federal Trade Commission, a U.S. district court has halted a Tampa, Florida-based operation that promised to help consumers get payday loans. Instead of loans, the defendants used consumers’ personal financial information to debit their bank accounts in increments of $30...
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...
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...
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.
A Federal Trade Commission study of the U.S. credit reporting industry found that five percent of consumers had errors on one of their three major credit reports that could lead to them paying more for products such as auto loans and insurance. Overall, the congressionally mandated study on credit...
In a settlement with the Federal Trade Commission, two California-based companies and their principals, who allegedly took hundreds of thousands of dollars from consumers, are banned from marketing auto loan relief or any other type of debt relief to consumers.
The Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) have signed an agreement to coordinate efforts to protect consumers and avoid duplication of federal law enforcement and regulatory efforts. “The FTC has always been committed to protecting consumers and...
The Federal Trade Commission has charged the operators of a credit repair company with making false statements to credit bureaus about information in consumers’ credit reports, and illegally collecting fees from consumers before performing any services. The action is part of the FTC’s continuing...
At the request of the Federal Trade Commission, a federal court has halted an online operation that allegedly debited consumers’ bank accounts without their consent when consumers visited the defendants’ websites seeking payday loans. The court also froze the defendants’ assets, pending further...
The Federal Trade Commission and the Federal Reserve Board are seeking public comment on proposed amendments to the Risk-Based Pricing Rule that would require creditors, as of July 21, 2011, to disclose credit score information to consumers when a credit score is used in setting or adjusting credit...
The Federal Trade Commission issued its annual report to the Federal Reserve Board on FTC enforcement activities regarding the Equal Credit Opportunity Act, Electronic Fund Transfer Act (EFTA), Consumer Leasing Act, and Truth in Lending Act. This year’s report also discusses FTC activities under...
The Federal Trade Commission is warning 18 Internet websites offering free credit reports that they must clearly disclose that a free report is available under federal law. The FTC’s recently amended Free Credit Reports Rule, which took effect April 2, 2010, requires certain disclosures to help...
The Federal Trade Commission has posted on its Web site a calculator that gives consumers an estimate of how long it will take them to pay off their credit card balance. Developed by the Federal Reserve Board, the calculator is being provided in connection with the Bankruptcy Abuse Prevention and...
The Federal Trade Commission will suspend enforcement of the new “Red Flags Rule” until May 1, 2009, to give creditors and financial institutions additional time in which to develop and implement written identity theft prevention programs.
The Federal Trade Commission has sent letters to 166 advertisers and 77 media outlets warning them that their advertisements targeting Hispanics are potentially deceptive. The ads were spotted during a one-day surf of Spanish-language newspaper, magazine, Internet, radio, and television...
The three nationwide consumer reporting companies – Equifax, Experian, and TransUnion – today announced the Web address, toll-free telephone number, and postal address consumers can use to request a free annual credit report. Beginning December 1, 2004, consumers in 13 Western states will be able...
The Federal Trade Commission today filed a complaint in federal court charging Associates First Capital Corporation and Associates Corporation of North America (collectively, The Associates) with systematic and widespread abusive lending practices, commonly known as "predatory lending." The FTC...

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