News & Analysis as of

Federal Trade Commission (FTC) Credit Repair Services

Orrick, Herrington & Sutcliffe LLP

FTC proposes fines, bans based on alleged credit repair scheme

On August 5, the FTC announced proposed court orders that would require a defendant credit repair operation, its owners and associated companies (collectively, defendants) to pay more than $12 million to resolve allegations...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

Ballard Spahr LLP

FTC Shuts Down Credit Repair Company

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The FTC has shut down Michigan-based Financial Education Services, a credit repair company that the agency says actually was a large pyramid scheme...more

Sheppard Mullin Richter & Hampton LLP

Allegedly Deceptive Credit Repair Scheme Settles with FTC for $12 Million

On August 7, the CFPB issued a report and a consumer advisory highlighting predatory practices in solar lending. On the same day, the FTC released a blog post emphasizing similar concerns....more

Wiley Rein LLP

Wiley Consumer Protection Download (October 2, 2023)

Wiley Rein LLP on

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

Ballard Spahr LLP

CFPB announces settlement with nation’s largest credit repair organizations

Ballard Spahr LLP on

The CFPB announced this week that it has entered into a proposed settlement of a lawsuit it filed in 2019 in Utah federal district court against a group of defendants who constitute the largest credit repair organizations in...more

Orrick, Herrington & Sutcliffe LLP

FTC submits annual enforcement report to CFPB

On June 7, the FTC announced that it submitted its 2022 Annual Financial Acts Enforcement Report to the CFPB. The report covers FTC enforcement activities regarding the Truth in Lending Act (TILA), the Consumer Leasing Act...more

Sheppard Mullin Richter & Hampton LLP

CFPB, FTC Continue Crack Down on Debt Relief Schemes

On May 5, the CFPB announced that it has sent payments totaling more than $22 million to approximately 6,500 individuals who were harmed by a Maryland-based debt-relief and credit-repair company that marketed and sold...more

Orrick, Herrington & Sutcliffe LLP

District Court allows FTC suit against owners of credit repair operation to proceed

On February 13, the U.S. District Court for the Eastern District of Michigan denied a motion to dismiss filed by certain defendants in a credit repair scheme....more

Cozen O'Connor

The State AG Report – 12.22.2022

Cozen O'Connor on

Here are last week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: Epic Games Pays $520 Million to FTC to Settle...more

Cozen O'Connor

FTC Settles with Operators of Alleged Credit Repair Scheme

Cozen O'Connor on

The FTC settled a lawsuit with Michael and Valerie Rando and affiliated entities for allegedly violating the FTC Act, the Credit Repair Organizations Act, the FTC’s Telemarketing Sales Rule, the COVID-19 Consumer Protection...more

Cozen O'Connor

FTC Obtains TRO Against Alleged Credit Repair Pyramid Scheme

Cozen O'Connor on

The FTC has obtained a temporary restraining order (TRO) against Financial Education Services, Inc., its owners, and five other affiliated entities (collectively the “Credit Repair Parties” or “CRPs”) for allegedly operating...more

Goodwin

Court Enjoins Credit Repair Company From Making Misrepresentations to Consumers

Goodwin on

On March 21, 2022, the Department of Justice (DOJ) announced that it obtained a permanent injunction against a credit repair company and its CEO, barring the company from making representations that it can improve consumers’...more

Troutman Pepper

Court Grants Injunction Against Credit Repair Organization Providing Allegedly Fraudulent Services to Consumers

Troutman Pepper on

On March 18, the District Court for the Southern District of Texas entered an injunction against a credit repair organization, Turbo Solutions, Inc. d/b/a Alex Miller Credit Repair, and its owner Alex Miller for alleged...more

Sheppard Mullin Richter & Hampton LLP

FTC, DOJ Halt Credit Repair Operation Over Deceptive Practices

On March 18, the U.S. District Court for the Southern District of Texas issued an injunction against a Texas-based credit repair company that allegedly made false promises to remove negative information from credit reports...more

Goodwin

FTC Reaches Settlement with Two Nevada Companies for Alleged Credit Card Scheme

Goodwin on

On January 29, 2021, the FTC announced that it filed a proposed settlement in the District of Nevada with two Nevada-based consulting companies, resolving claims ​that the companies violated the FTC Act, Telemarketing and...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 Against Student Debt Relief and Credit Repair Scheme

Goodwin on

On May 25, 2017, the Federal Trade Commission (“FTC”) announced that it filed a complaint? in federal court in the United States District Court for the Southern District of Florida against a student loan debt relief and...more

Manatt, Phelps & Phillips, LLP

Advertising Law - August 2015 #3

Ad Group to FTC: Keep Right to Be Forgotten Out of U.S. - Responding to a petition filed by Consumer Watchdog with the Federal Trade Commission seeking an expansion of the “Right to Be Forgotten” to the United States,...more

Manatt, Phelps & Phillips, LLP

Regulators Keep Their Feet on the Gas in Actions Against Auto Lenders; NY AG Latest to Bring Suit

Why it matters - The automotive industry is continuing to face heavy scrutiny from regulators. On the heels of a Federal Trade Commission operation and new oversight from the Consumer Financial Protection Bureau, the...more

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