News & Analysis as of

Debt 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

FTC Obtains Order Against Accelerated Debt for Allegedly Deceptive Practices Targeting Elderly and Veterans

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On July 14, the Federal Trade Commission (FTC) secured a court order aimed at halting allegedly deceptive practices against seven companies and three individuals operating the “Accelerated Debt” program. The defendants...more

Davis Wright Tremaine LLP

May 2023 UDAAP Bulletin

The following document provides a monthly roundup summarizing enforcement actions, guidance, rulemakings, and other public statements from the Consumer Financial Protection Bureau and the Federal Trade Commission regarding...more

Ballard Spahr LLP

CFPB, AG’s, secure $92M in debt relief for servicemembers victimized by predatory lending

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The CFPB, after an investigation in cooperation with 13 state attorneys general, has entered into a consent order with Colfax Capital Corporation, a California consumer lending company (Colfax), and its wholly-owned...more

Ballard Spahr LLP

CFPB uses enforcement powers in attempt to shut down debt relief company in Florida

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This past Thursday, the CFPB announced that it filed a complaint against a Florida debt-relief company that misled consumers across the country. Following an investigation into American Debt Settlement Solutions, Inc. (ADSS)...more

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