Tag: Debt

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As part of the Federal Trade Commission’s ongoing crackdown on payment processors that turn a blind eye to fraud, the agency sued a payment processing business that allegedly assisted and facilitated a telemarketing credit card interest rate reduction scam.
The Federal Trade Commission mailed 330 refund checks to consumers who allegedly were duped by marketers using illegal robocalls to deceptively claim they could reduce consumers’ credit card interest rates.  Under settlements entered by the court in 2011 as part of the FTC’s ongoing efforts to...
The Federal Trade Commission today announced the results of the first empirical study of debt buyers – companies that are in the business of buying consumer debts and trying to collect on them. 
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.
At the Federal Trade Commission’s request, the U.S. District Court for the Middle District of Florida has temporarily shut down Innovative Wealth Builders, Inc.
At the request of the Federal Trade Commission, a U.S. district court has temporarily halted a debt relief operation that allegedly charged cash-strapped consumers hundreds of dollars based on the false claim that it could obtain rates as low as zero percent.
The Federal Trade Commission has filed three separate suits in federal court to halt the allegedly deceptive tactics of three operations that preyed on distressed homeowners by falsely claiming they could save their homes from foreclosure, and then charging them thousands of dollars up-front, while...
At the Federal Trade Commission’s request, a federal court halted a purported debt relief operation that allegedly contacted consumers through prerecorded telemarketing calls, falsely claimed it would reduce their unsecured debt by 50 percent or more, made unauthorized charges to their bank...
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...
Homeowners will be protected by a new Federal Trade Commission rule that bans providers of mortgage foreclosure rescue and loan modification services from collecting fees until homeowners have a written offer from their lender or servicer that they decide is acceptable.
The Federal Trade Commission has issued an enforcement policy statement on a new FTC rule that protects consumers by barring debt relief firms from collecting up-front fees.
The Federal Trade Commission today outlined the biggest challenges facing consumer protection agencies in the used car market in testimony before the U.S. House Committee on Energy and Commerce, Subcommittee on Commerce, Trade and Consumer Protection.
Issuance of Commission advisory opinion: The Commission has issued an advisory opinion stating that the Fair Debt Collection Practices Act does not prohibit a debt collector in the foreclosure context from communicating with consumers regarding possible settlement options that may assist consumers...
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...
Following an investigation coordinated with the British Columbia Ministry of Attorney General, the Federal Bureau of Investigation ("FBI") and the Royal Canadian Mounted Police ("RCMP"), the Federal Trade Commission today announced it has filed a civil complaint against the purveyors of a well-...
A new policy hammered out by the National Foundation for Consumer Credit (NFCC) with guidance from staff of the Federal Trade Commission will ensure that financially-troubled consumers who seek help from one of NFCC’s 1,100 Consumer Credit Counseling Services offices nationwide will be told that...

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