FTC Settles with National Credit Repair Company Over Allegedly Misleading Representations

Credit Reporting  •  FTC

FTCOn August 4, the Federal Trade Commission (FTC) announced​ that it had reached a settlement with a national credit repair company and its officers over allegations that they misrepresented the nature of the services provided to Spanish-language consumers.  The complaint, filed on March 16, alleged that the company charged consumers up-front for credit repair services, falsely claimed to be affiliated with the FTC, guaranteed consumers a specific credit score after purchase of services, and misrepresented to consumers that accurate but negative information could be removed from consumers’ credit reports.  The settlements permanently enjoin the company’s officers from advertising or marketing credit repair services, and misrepresenting the services offered by the company.  The settlement also orders one individual involved to pay a $2.4 million civil money penalty, but suspends the civil money penalties imposed against other participants.

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