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FTC Act Debt-Relief Industry

Goodwin

Federal Court Grants TRO Against Debt Relief Company Targeting Spanish-Speaking Student Loan Borrowers

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​​​​​​​On July 22, 2024, the Federal Trade Commission announced that the U.S. District Court for the Middle District of Florida had granted its motion for a temporary restraining order against a debt relief company that...more

Troutman Pepper

FTC Permanently Bans Entities Behind Credit Repair Pyramid Scheme

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The Federal Trade Commission (FTC) recently announced that it has filed proposed orders against the owners and operators of Financial Education Services (FES), a credit repair operation accused of running a pyramid scheme and...more

Wiley Rein LLP

Wiley Consumer Protection Download (July 30, 2024)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Hinch Newman LLP

California Federal Court Holds RVM Platform Provider Not Liable for Violation of Telemarketing Sales Rule

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In February 2023, the U.S. Justice Department announced that, together with the Federal Trade Commission, a civil enforcement action had been filed against several corporate and individual defendants for alleged violations of...more

Cozen O'Connor

FTC, California DFPI Team Up Against Mortgage Relief Scams

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The FTC and California’s Department of Financial Protection and Innovation (DFPI) obtained default judgments against six companies doing business as Home Matters USA, Academy Home Services, Atlantic Pacific Service Group,...more

Goodwin

2023 Year in Review: Debt Collection and Debt Settlement

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Welcome to the Debt Collection and Debt Settlement chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - Enforcement actions related to debt collection and debt...more

Ballard Spahr LLP

FTC bans group of student loan debt relief scammers from the debt relief industry

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The Federal Trade Commission (“FTC”) recently entered into proposed stipulations with a group of student loan debt relief providers to resolve allegations that the group conducted deceptive marketing and sales practices in...more

Cozen O'Connor

FTC Settles over Alleged Student Loan Debt Relief Scam

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The FTC settled with Express Enrollment LLC and Intercontinental Solutions LLC, as well as affiliated individuals, to resolve allegations the entities violated the FTC Act, the Telemarketing and Consumer Fraud and Abuse...more

Sheppard Mullin Richter & Hampton LLP

CFPB Reaches $2.6 Billion Settlement with Credit Repair Company

On August 28, the CFPB announced a proposed settlement with Utah-based credit repair telemarketing company and its affiliates for allegedly committing deceptive acts and practices in violation of the Telemarketing Sales Rule...more

Orrick, Herrington & Sutcliffe LLP

FTC obtains TROs to halt student loan debt relief schemes

On May 8, the FTC announced that the U.S. District Court for the Central District of California recently issued temporary restraining orders (TROs) against two student loan debt relief companies that allegedly tricked...more

Shipkevich PLLC

FTC Obtains Temporary Injunction Against Two Student Loan Debt Relief Companies

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Last week, the Federal Trade Commission (FTC) obtained temporary restraining orders against two student debt relief companies in the U.S. District Court for the Central District of California. The FTC thereby temporarily...more

Orrick, Herrington & Sutcliffe LLP

FTC obtains permanent ban against operators of debt relief scheme

On May 1, three individuals accused of allegedly participating in a credit card debt relief scheme agreed to court orders permanently banning them from telemarketing and selling debt relief products and services...more

Hinch Newman LLP

Roundup of FTC Consumer Protection Matters of Interest to Digital Advertisers: March 2023

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In March 2023, the Federal Trade Commission announced a number of consumer protection actions involving data privacy, COVID health claims, a robocall debt relief pitch scheme, and alleged harmful noncompete restrictions. The...more

Orrick, Herrington & Sutcliffe LLP

FTC, DOJ sue telemarketers of fake debt relief services

On February 16, the DOJ filed a complaint on behalf of the FTC against several corporate and individual defendants for alleged violations of the FTC Act and the Telemarketing Sales Rule (TSR) in connection with debt relief...more

Shipkevich PLLC

U.S. District Court for the Middle District of Tennessee Grants FTC’s Motion to Temporarily Shut Down Alleged Credit Card Debt...

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On November 21, 2022, the U.S. District Court for the Middle District Of Tennessee granted the Federal Trade Commission's (FTC’s) ex parte motion for, among other relief, a temporary restraining order (“TRO”) to shut down an...more

Goodwin

FTC Reaches $500,000 Settlement with Payment Processor for Its Role in Alleged Student Loan Debt Relief Scheme

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On November 8, 2021 the Federal Trade Commission (FTC) announced that it entered into a stipulated order with a payment processor, resolving allegations that the payment processor violated Section 5 of the Federal Trade...more

Goodwin

FTC Settles Claims with Student Loan Debt Relief Companies

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On May 17, 2021, the Federal Trade Commission (FTC) announced​ a settlement​ with several student loan debt relief companies and their respective owners. The settlement stems from a complaint filed in 2019, in which the...more

Goodwin

FTC Distributes $1.7 Million to Affected Consumers in Alleged Student Loan Debt Relief Scam

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On February 10, 2021, the Federal Trade Commission (FTC) announced that it will begin distributing over $1.7 million to consumers that it claims lost money as a result of an alleged student loan debt relief scheme. The...more

Manatt, Phelps & Phillips, LLP

Regulators Crack Down On Credit Repair Companies

Regulators are keeping a close eye on credit repair companies as evidenced by a pair of new lawsuits filed by the Illinois attorney general and a separate action brought by the Federal Trade Commission (FTC)....more

Goodwin

FTC Files Suit and Obtains Temporary Restraining Order Against Alleged Student Loan Debt Relief Scam

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On November 12, 2019, the Federal Trade Commission (FTC) announced that on it had filed a lawsuit against a collection of interrelated companies and individual defendants for allegedly misrepresenting themselves as affiliated...more

Ballard Spahr LLP

FTC announces settlements with student debt relief company and company that financed fees

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The FTC announced settlements of two lawsuits filed in a California federal district court alleging similar violations of the FTC Act, the Telemarketing Sales Rule (TSR), and the Truth in Lending Act by providers of student...more

Goodwin

FTC Settles Claims Against Student Loan Debt Relief Company for Over $2.3 Million

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On June 11, the Federal Trade Commission (FTC) announced that it had settled claims against an individual and his loan debt relief companies in connection with its coordinated federal-state enforcement initiative to target...more

Goodwin

FTC Obtains Preliminary Injunction Against Mortgage Relief Operation

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On May 8, the Federal Trade Commission (“FTC”) announced that the U.S. District Court for the Central District of California granted its request to preliminarily enjoin affiliated California-based debt relief companies from...more

Goodwin

FTC Accuses Student Loan Debt Relief Operation of Deceiving Consumers

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On February 7, 2018, the Federal Trade Commission (“FTC”) announced an enforcement action against a student loan debt relief operation, claiming it deceived consumers out of $28 million by falsely promising that their monthly...more

Ballard Spahr LLP

FTC files lawsuit against student loan debt relief companies

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The FTC has filed a lawsuit in a California federal district court against three interrelated student loan debt relief companies and the individual who is their majority owner for alleged violations of Section 5 of the FTC...more

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