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FTC Settles with National Credit Repair Company Over Allegedly Misleading Representations

FTC

​On 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…

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CFPB Summarizes Recent Results of Supervisory Enforcement

On June 23, 2015, the Consumer Financial Protection Bureau (CFPB) released its Supervisory Highlights report detailing the Bureau’s supervision efforts for the first four months of 2015. The report summarizes the most common “illegal practices” uncovered by the Bureau and identifies the areas where the Bureau has  focused on in its…

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State Attorneys General Announce Settlement with Credit Reporting Agencies

On May 20, 2015, Ohio Attorney General Mike DeWine, along with attorneys general of thirty other states (“the State AGs”), announced a $6,000,000 settlement with three major credit reporting agencies (“CRAs”). According to the announcement and the Settlement Agreement, the settlement is a culmination of a multistate investigation that the…

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Credit Reporting Agencies Agree to Overhaul of Credit Reporting Processes in Settlement with New York A.G.

On March 9, 2015, the New York Attorney General announced a settlement with three national credit reporting agencies. The companies allegedly failed to maintain proper procedures for ensuring the accuracy of consumer credit information in violation of the Fair Credit Reporting Act. According to one study, allegedly 26% of consumers…

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