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Federal Trade Commission (FTC) Debt Relief

Sheppard Mullin Richter & Hampton LLP

FTC’s Shuts Down Operators of Debt Relief Enterprise

On July 11, the Federal District Court for the Middle District of Florida granted the FTC’s request for a temporary restraining order against operators of a debt relief enterprise that unlawfully charged consumers illegal...more

Orrick, Herrington & Sutcliffe LLP

FTC halts deceptive student loan debt relief operation and freezes assets

On June 28, the FTC announced an enforcement action against a student loan debt relief operation that allegedly took over $20.3 million from consumers by falsely claiming affiliation with the Department of Education and...more

Sheppard Mullin Richter & Hampton LLP

FTC Files Action Against Student Debt Relief Enterprise

On June 28, the FTC announced it had filed an action in federal court against a California-based student debt relief enterprise for deceptive practices, including unlawfully obtaining advance fees for debt relief, and...more

Hudson Cook, LLP

CFPB Bites of the Month - February 2024 - "I Got You, CFPB".

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In this month's article, we share some of our top "bites" covered during the February 2024 webinar....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

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - February 2024 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Sheppard Mullin Richter & Hampton LLP

FTC Announces Settlement of Junk Fee Enforcement Action

On February 6, the FTC announced that it had reached proposed settlements with several defendants in a pending action where the parties were accused of operating a fraudulent student debt relief scheme and collecting...more

Shipkevich PLLC

FTC Files Proposed Orders to Ban Student Debt Relief Companies for Illegal Junk Fees and Upfront Fees

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On February 6, 2024, the Federal Trade Commission (“FTC”) filed two proposed stipulated orders with a California federal court to permanently ban student debt relief companies as well as their individual operators. The...more

Sheppard Mullin Richter & Hampton LLP

CFPB and Attorneys General Sue Debt-Relief Enterprise

On January 10, the CFPB and the attorneys generals of Colorado, Delaware, Illinois, Minnesota, New York, North Carolina, and Wisconsin sued a New York-based debt relief company and its founders in the U.S. District Court for...more

Cozen O'Connor

Alleged Scammers Banned from Debt Relief Industry in FTC Settlement

Cozen O'Connor on

The FTC settled with SL Finance LLC and its owners, and separately with BCO Consulting Services Inc. and SLA Consulting Services Inc. and their owners, to resolve allegations that the entities and individuals violated the FTC...more

Cozen O'Connor

The State AG Report – 9.14.2023

Cozen O'Connor on

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: • Minnesota AG Investigates Student Loan Debt Relief...more

Orrick, Herrington & Sutcliffe LLP

District Court files temporary restraining order to stop scammers in FTC suit

On August 21, the FTC announced it has stopped California-based scammers (defendants) who allegedly preyed on students seeking debt relief by pretending to be affiliated with the Department of Education. According to the...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - July 2023 # 2

Troutman Pepper on

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more

Goodwin

FTC Brings Action Against Two Companies Involved in Illegal Student Loan Relief Schemes

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On May 8, 2023 the FTC announced that it filed complaints against two loan forgiveness and debt relief companies on April 24, 2023 alleging that they falsely claimed to be affiliated with the Department of Education....more

Cozen O'Connor

FTC Files Complaints Against Two Allegedly Phony Student Debt Relief Programs

Cozen O'Connor on

The FTC filed a complaint against SL Finance LLC and a separate complaint against BCO Consulting Services, Inc. and SLA Consulting Services Inc., as well as the companies’ owners. The FTC alleges that the companies violated...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

California’s DFPI Cracks Down on Student Debt Relief Scams

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Recent Consent Order Issued by the DFPI Against Student Loan Relief Company - On February 28, 2023, the California Department of Financial Protection and Innovation (DFPI) announced that it has entered into a Consent Order...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...

Shipkevich PLLC on

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

Sheppard Mullin Richter & Hampton LLP

No Relief in Sight: CFPB and FTC Continue to Take Action Against Debt Settlement Companies

On April 29, the CFPB filed a proposed order in federal court seeking final judgment against three California-based defendants for engaging in unlawful fee-charging practices and deceptive telemarketing. According to the...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

Sheppard Mullin Richter & Hampton LLP

FTC Bans Operators of Alleged Debt Relief Scam, $5.3M penalty

On February 28, the FTC announced that the operators of an alleged credit card interest rate reduction scam will be permanently banned from the debt relief industry as part of court orders resolving charges by the FTC and the...more

Wiley Rein LLP

Wiley Consumer Protection Download (July 19, 2021)

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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

Wiley Rein LLP

Wiley Consumer Protection Download (June 7, 2021)

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

Goodwin

SEC Issues No-Action Relief On Registered Funds’ Custody Of Loan Interests

Goodwin on

In this Issue. The U.S. Securities and Exchange Commission (SEC) was very active this week, having (i) issued no-action relief allowing registered funds to engage in self-custody of interests in loans that are originated,...more

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