FTC

FDIC Announces Settlements With Wisconsin Banks Over Lending Violations

On May 11, 2017, the Federal Deposit Insurance Corporation (FDIC) announced a settlement with a Wisconsin bank and two affiliated institutions, resolving allegations that the three lenders violated Section 5 of the Federal Trade Commission (FTC) Act, which prohibits unfair and deceptive practices.  The lenders allegedly violated this provision by: (1) charging…

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FTC Announces Settlement with Municipal Debt Collector Over Alleged Abusive Debt Collection Practices

​On March 24, 2017, the Federal Trade Commission (FTC) announced​ that it entered into a consent order with a debt collection company, resolving allegations that the company engaged in unfair and abusive debt collection practices in violation of the Fair Debt Collection Practices Act (FDCPA), 15 U.S.C. §§ 1692-1692p, and section 5 of…

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National Debt Relief Provider Reaches $9 Million Settlement with FTC for Deceptive Solicitations

On March 7, the Federal Trade Commission (FTC) announced that the United States District Court for the Eastern District of Texas entered a stipulated order prohibiting a national debt relief provider from making misleading claims about its debt relief services. The court also entered a $9 million judgment against the defendants, with all but…

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Student Loan Debt Collector Settles with FTC for $700,000 Over Alleged FDCPA and FTC Act Violations

FTC

On February 14, 2017, the Federal Trade Commission (FTC) announced that it had entered into a stipulated order with a student loan debt collector, resolving allegations that the debt collector violated the Fair Debt Collection Practices Act (FDCPA) and Federal Trade Commission Act (FTC Act) in its servicing of over two million accounts in…

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FTC and Florida AG Ban Student Loan Debt Relief Providers

On January 24, the Federal Trade Commission (FTC) and the Florida Attorney General’s Office announced a settlement with student loan debt relief providers alleged to have participated in a student loan debt relief scheme, resolving allegations that the providers violated the Federal Trade Commission Act, Telemarketing and Consumer Fraud and Abuse Prevention Act,…

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FTC Secures $19.4 Million in Judgments Over Mortgage Relief Scheme

FTC

On January 11, 2017, the Federal Trade Commission (FTC) announced that it had agreed to two stipulated orders (available here and here) with individuals who participated in an alleged fraudulent mortgage relief scheme.  According to the FTC, the individuals promised consumers “at least $75,000” or complete relief on their mortgages through a “mass joinder lawsuit.”  The…

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