News & Analysis as of

Consumer Financial Products Federal Trade Commission (FTC) Debt-Relief Industry

Ballard Spahr LLP

FTC takes action against Accelerated Debt for running a debt relief scam

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An ex parte temporary restraining order has been issued against the participants in a debt relief services scheme that allegedly targeted seniors, including veterans, using a variety of deceptive practices, including falsely...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter – December 2024 # 4

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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

Shipkevich PLLC

Post-Election Analysis and Its Impact on the Debt Settlement Industry

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Discover insights from regulatory attorneys, Felix Shipkevich and Yvonne Bowser-Caballero of Shipkevich PLLC, who recently hosted this webinar to discuss a post-election overview of the regulatory state of the debt settlement...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 Locke

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

Troutman Pepper Locke on

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

Cozen O'Connor

State AG Pulse | Action By MN AG Ellison Could Ripple Through Debt Servicing Industry

Cozen O'Connor on

Student loans have been much in the news and with federal loan payments restarting next month. Chris Allen and Keturah Taylor take a dive into the debt servicing world. They contend that an investigation by Minnesota AG Keith...more

Venable LLP

FTC Joins with California DFPI to Obtain Asset Freeze Against Mortgage Relief Business

Venable LLP on

​​​​​​​Last week, the Federal Trade Commission turned its attention to the mortgage relief industry once again. In its most recent enforcement action, the FTC joined forces for the first time with the California Department of...more

Wiley Rein LLP

Wiley Consumer Protection Download (November 23, 2020)

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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 (November 9, 2020)

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Regulatory Announcements - CFPB Issues No Action Letter to Facilitate Consumer Access to Loans. The Consumer Financial Protection Bureau (CFPB) issued a No-Action Letter to Bank of America, N.A. on November 5 regarding...more

Hudson Cook, LLP

COVID-19 and Federal Enforcement: The Song Remains the Same

Hudson Cook, LLP on

The COVID-19 pandemic may have halted many aspects of daily life, but the wheels of justice at your friendly federal regulators continue to turn. In the months since the crisis, a number of enforcement actions by both the...more

Ballard Spahr LLP

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

Ballard Spahr LLP on

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

Hudson Cook, LLP

"Clearly and Prominently:" Consumer Debt Settlement Disclosures in Wake of CFPB v. Freedom Debt Relief

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The debt settlement industry received some "regulation by enforcement" in the wake of a settlement of the lawsuit filed by the Consumer Financial Protection Bureau ("CFPB") against Freedom Debt Relief, LLC ("FDR"). The...more

Goodwin

FTC Settles with Student Debt Relief Companies for $19 Million

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On September 28, 2018, the Federal Trade Commission (FTC) announced that it had reached a settlement with loan debt relief operators in connection with the coordinated federal-state enforcement initiative to target deceptive...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 Settles Claims Against Student Loan Debt Relief Company for Over $17.7 Million

Goodwin on

On May 31, the Federal Trade Commission (FTC) announced that it settled claims against a student loan debt relief company as part of a coordinated federal-state enforcement initiative to target deceptive student loan debt...more

Goodwin

FTC Settles Claims Against Student Loan Debt Relief Company for Over $9 Million

Goodwin on

On May 31, the Federal Trade Commission (FTC) announced that it settled claims against a loan debt relief company in connection with its coordinated federal-state enforcement initiative to target deceptive student loan debt...more

Ballard Spahr LLP

FTC files lawsuit against student loan debt relief companies

Ballard Spahr LLP on

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

Ballard Spahr LLP

FTC announces coordinated enforcement initiative with state AGs targeting student loan debt relief providers

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Last Friday, as expected, the FTC announced the launch of a coordinated federal-state law enforcement initiative targeting deceptive student loan debt relief companies. ...more

Goodwin

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

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

Dorsey & Whitney LLP

“Abusive” Development – Recent Applications of the Prohibition against Abusive Acts and Practices

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The enactment of the Dodd-Frank Act in 2010 created the Consumer Financial Protection Bureau (“CFPB”) and, among other things, vested it with broad authority to enforce prohibitions on unfair, deceptive and abusive acts and...more

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