Search Results: test FTCA

FTC Sues Credit Repair Companies Over Allegedly Deceptive Marketing Practices

FTC

On June 21, 2019, the Federal Trade Commission (FTC) announced that it had filed a lawsuit against affiliated companies offering services to repair consumers’ damaged credit.  The FTC’s Complaint, filed in the U.S. District Court for the District of Connecticut, alleged that the companies used deceptive marketing campaigns that promised to eliminate derogatory credit from consumers’ credit reports and raise…

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Federal Court Halts California-Based Student Debt Relief Scheme at Request of FTC

FTC

On November 20, 2018, the Federal Trade Commission (FTC) announced that a federal court issued an injunction to halt and freeze the assets of a California-based student loan debt relief scheme. Two weeks prior​​​, the FTC filed a complaint against the operators of the scheme, alleging deceptive acts and practices in violation of Section 5(a)…

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New York AG Announces Court Order Requiring Debt Collectors to Pay $27 Million

On September 21, New York Attorney General Barbara D. Underwood announced a stipulated court order against three entities and individuals for illegal debt collection practices (collectively, “defendants”), which permanently bans the defendants from the debt collection industry and requires collective payment of almost $27 million in restitution and damages. The court…

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Federal Reserve Board Settles With Kentucky Bank for $4.75 Million

On July 26, 2018, the Federal Reserve Board (FRB) announced a multi-million dollar settlement with a Kentucky bank over allegations of unlawful banking practices in violation of Section 5 of the Federal Trade Commission Act. According to the Consent Order, the bank made misrepresentations and failed to disclose certain information to consumers about…

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OCC and CFPB Reach $30 Million Settlement With South Dakota Bank Over Overdraft Fees

On July 20, 2018, the Office of the Comptroller of the Currency (OCC) and Consumer Financial Protection Bureau (CFPB) reached a $30 million settlement with a South Dakota bank over allegations that the bank had engaged in deceptive practices with respect to its overdraft services in violation of Section 5 of the Federal Trade…

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