Court Shuts Down Credit Repair Scam That Impersonates FTC
A federal court has halted the operations of a company that calls itself "FTC Credit Solutions." The company allegedly used false affiliation with the FTC to market bogus credit repair services to Spanish-speaking consumers.
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"We are taking an important step toward ending the debt traps that are so pervasive in both the short-term and longer-term credit markets," said CFPB Director Richard Cordray in prepared remarks.
WASHINGTON — After releasing successive studies on the payday industry over the past two years, the Consumer Financial Protection Bureau is finally set to unveil Thursday sweeping proposals that could fundamentally change the business of short-term loans and other products. more »
An Illinois federal court dismissed a Fair Debt Collection Practices Act case that involved a collection account number being visible on an envelope containing a debt collection letter. The decision goes against a high-profile collection case ruling last year. more »
West Virginia lawmakers passed a bill Saturday to make changes to the state’s Consumer Credit and Protection Act concerning collecting debts, including the codification of abusive call volume. more »
Four Star Resolution in Buffalo, N.Y., one of two collection agencies in Western New York facing lawsuits from the Federal Trade Commission and the New York Attorney General’s office for allegedly abusive tactics, wants a judge to remove a restraining order preventing it from doing business. more »
A U.S. district court has banned the ringleader of a multi-million dollar fraud that targeted seniors from all telemarketing activities after he agreed with the Federal Trade Commission’s allegations that he withdrew money illegal from consumers’ bank accounts and funneled it to Canada. more »
Coast Professional, National Recoveries Inc. and Enterprise Recovery Systems Inc. are suing the U.S. Department of Education over a decision made last week to end collection contracts for allegedly misleading borrowers. more »
Legislation concerning debt collectors is gaining traction in Indiana. House Bill 1358 would allow the state to reduce or take a person’s state tax return to settle a garnishment. more »
The U.S. Court of Appeals for the Fourth Circuit has affirmed a district court’s dismissal of claims against debt buyer LVNV Funding for filing proofs of claim in a state where it was not licensed as a debt collector. more »
JPMorgan Chase has agreed to a $50.4 million settlement with the Justice Department for robo-signing documents sent to homeowners in bankruptcy and for related abuses. more »
Debt collection held steady as the second ranked consumer complaint reported to the Federal Trade Commission, according to the federal agency's 2014 Consumer Sentinel Network Data Book, which was released Friday. more »
Total lawsuits filed under the Fair Debt Collection Practices Act rose in January while lawsuits citing violations of the Telephone Consumer Protection Act fell. The numbers reverse a trend from the past three years. more »
Federal and state regulators filed lawsuits against two debt collection rings for allegedly using threats and abusive language, including falsely stating that consumers would be arrested. The operations collected more than $45 million in supposed debts, according to the complaints. more »

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