FTC Issues Final Rules for Debt Relief Services: Landmark Changes for Service Providers, Advertisers and Marketers of Debt Relief Services

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On July 29, 2010 at the White House, with Vice President Biden at the podium, the Federal Trade Commission (the “FTC” or “Commission”) announced its long awaited amendments to the Telemarketing Sales Rule (“TSR”) targeting the sale of “debt relief services” (the “Final Rule” or the “rule”). Under the Final Rule, virtually all debt relief service providers that promote their services through inbound or outbound telephone calls, including in response to inquiries arising from lead generators, will be subject to a ban on advance fees before services are provided, as well as new and existing requirements, and other provisions, of the TSR.

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Published In: Administrative Agency Updates, Antitrust & Trade Regulation Updates, Bankruptcy Updates, Communications & Media Updates, Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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