News & Analysis as of

Debt-Relief Industry

FTC Issues Order Against Debt Relief Company for Alleged Misrepresentations

by Goodwin on

On February 27, 2017, the Federal Trade Commission (FTC) entered into a stipulated order for permanent injunction and monetary judgment with defendants United Debt Counselors, LLC, a debt relief company, and its principals,...more

North Carolina Attorney General Secures Over $35 Million In Settlement With Debt Relief Providers

by Goodwin on

On March 9, 2017, the North Carolina Attorney General (“AG”) announced that it had settled a lawsuit filed in the Wake County, North Carolina Superior Court against three debt relief companies and two individuals. As a...more

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

by Goodwin on

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...more

FTC Settles with Remaining Defendant in Alleged Mortgage Scam Case

by Goodwin on

On February 21, 2017, the United States District Court for the Central District of California issued a stipulated order as to the final defendant in an alleged mortgage-relief scam. The court had entered judgment against the...more

FTC Reaches $1.7 Million Settlement with Final Defendant in Mortgage Relief Scheme

by Goodwin on

On February 23, 2017, the Federal Trade Commission (FTC) announced that it entered into a settlement with the final individual defendant in an alleged mortgage relief scheme worth over $1.7 million. As a result of a...more

CFPB Files Suit Against Debt Relief Attorneys

by Goodwin on

On January 30, 2017, the Consumer Financial Protection Bureau (CFPB) filed a complaint in the United States District Court for the Central District of California against several debt relief law firms and individual attorneys...more

CFPB files complaint alleging defendants ran unlawful debt relief operation

by Ballard Spahr LLP on

The CFPB has filed a complaint in a California federal district court against three law firms and two individual attorneys alleging that they offered debt relief services to consumers in violation of the Telemarketing Sales...more

FTC and Florida AG Ban Student Loan Debt Relief Providers

by Goodwin on

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,...more

FTC Secures $19.4 Million in Judgments Over Mortgage Relief Scheme

by Goodwin on

On January 11, 2017, the Federal Trade Commission (FTC) announced that it had agreed to two stipulated orders with individuals who participated in an alleged fraudulent mortgage relief scheme. According to the FTC, the...more

Five Indicted for Alleged $33 Million Fraudulent Mortgage Discharge Scheme

by Goodwin on

On December 1, 2016, the United States Attorney’s Office for the Southern District of New York, the New York Field Division of the Federal Bureau of Investigation, and the Department of Housing and Urban Development (HUD)...more

Ohio AG Files Lawsuit Against Mortgage-Relief Services Provider

by Goodwin on

On November 4, 2016, the Ohio Attorney General’s office (AG) announced it filed a complaint against a California-based mortgage-relief services provider and its director (Defendants) alleging violations of Ohio’s consumer...more

FTC Secures $1.8M in Restitution From Debt Relief Scammers

by Goodwin on

On September 22, the Federal Trade Commission (FTC) announced that the U.S. District Court for the Central District of California issued a permanent injunction prohibiting five defendants involved in mortgage relief scams...more

Massachusetts AG Settles with Student Debt Relief Company Over Alleged Illegal Fees

by Goodwin on

On September 1, 2016, the Massachusetts Attorney General (“AG”) announced a settlement with a student loan debt relief company, over allegations the company charged illegal fees to enroll borrowers in income-based repayment...more

CFPB Week in Review

The Consumer Financial Protection Bureau (CFPB) had another busy week. Here is an overview of what the CFPB was up to recently: Enforcement Actions and Litigation - Enforcement Action Against Santander Bank...more

District Court: CFPB May Hold Law Firm Owners Individually Liable for Alleged Violations

by Holland & Knight LLP on

The U.S. District Court for the Western District of Wisconsin ruled on July 20, 2016, that the Consumer Financial Protection Bureau (CFPB) may hold the owners of two law firms offering debt relief services liable for alleged...more

Advertising Law - June 2016 #4

FTC Shuts Down Scam Touting Aid for Disabled Individuals - A telemarketer faces a Federal Trade Commission ban on claims that the sales of products would help disabled individuals....more

CFPB files supplemental amicus brief in Third Circuit FDCPA case to address Spokeo

by Ballard Spahr LLP on

The CFPB has filed a supplemental amicus brief with the U.S. Court of Appeals for the Third Circuit in Bock v. Pressler & Pressler, LLP, the case in which the district court ruled that a debt collection law firm violated the...more

Advertising Law - May 2016 #4

NAD Vacuums Up Preference Claims - In a challenge brought by a competing vacuum manufacturer, the National Advertising Division recommended that SharkNinja discontinue a claim that "Americans now choose Shark 2-to-1 over...more

CFPB Takes Action Against Another Student Debt Relief Company

On March 30, 2016, the Consumer Financial Protection Bureau (CFPB) announced an enforcement action against student debt relief company Student Aid Institute, Inc., and its chief executive officer, Steven Lamont, for allegedly...more

CFPB announces settlement of lawsuit against student loan debt relief company

by Ballard Spahr LLP on

The CFPB announced the filing of a proposed stipulated final judgment and order in its December 2014 lawsuit against Student Loan Processing.US (a fictitious business name of Irvine Web Works, Inc.) and its individual owner....more

CFPB Takes Action Against Student Debt Relief Company

On March 15, 2016, the Consumer Financial Protection Bureau (CFPB) announced that it requested a federal court to enter a final order shutting down student debt relief company Student Loan Processing.US. In December...more

CFPB Obtains Injunction Against World Law Group

by McGuireWoods LLP on

The CFPB recently obtained preliminary injunctions against debt-reduction company World Law Group, its affiliates and its owners, thereby freezing the company’s assets and stopping all further operations pending the outcome...more

CFPB obtains preliminary injunction against debt relief companies

by Ballard Spahr LLP on

A Florida federal district court has entered a preliminary injunction against several companies and an individual who were named as defendants in a complaint filed by the CFPB in August 2015 charging them with violations of...more

No Summer Vacation for Student Lending Companies as Enforcement Activity Continues

by Goodwin on

Student lending continues to remain in the crosshairs of federal and state consumer finance regulators during the summer months, with over five enforcement actions and investigations in recent weeks. As covered in both...more

FTC, Florida AG File Action to Stop Alleged Telemarketing Debt Relief Scam Targeting Seniors

by Ballard Spahr LLP on

The Federal Trade Commission (FTC) and the Florida Attorney General (AG) have jointly filed a complaint in a Florida federal court against several companies and their individual owners alleging that the defendants engaged in...more

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