News & Analysis as of

Fraud Enforcement Actions Telemarketing Sales Rule

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
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

Venable LLP

FTC’s Ever-Expanding Remedies Toolkit: GLBA and Impersonation Rule Applied to Debt Relief Scheme

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On July 14, the Federal Trade Commission (FTC) filed a complaint in the U.S. District Court for the District of Arizona against a group of companies and individuals operating under the “Accelerated Debt” brand, alleging they...more

Sheppard Mullin Richter & Hampton LLP

FTC Granted Injunction in Small Business Lending Case 

The CFPB has recently dismissed two more enforcement actions—one against a major credit reporting agency and another against a lease-to-own financing provider. Both lawsuits involved allegations of abusive, unfair, and...more

Ballard Spahr LLP

FTC obtains preliminary injunction against Seek Capital and CEO Roy Ferman

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A federal judge has issued a preliminary injunction against Seek Capital and its founder and CEO, Roy Ferman, barring the company from making false claims and forbidding the company from contacting any consumers whose...more

Hinch Newman LLP

Will the FTC Under President-Elect Trump Reject Novel Liability Theories?

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President-elect Donald Trump recently announced that Republican Commissioner Andrew Ferguson will chair the Federal Trade Commission during Mr. Trump’s second administration. Commissioner Ferguson is also a known critic of...more

Hudson Cook, LLP

Federal Trade Commission Sues Business Financing Company for Allegedly Misleading Consumers

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On November 4, 2024, the Federal Trade Commission sued Seek Capital, LLC, and Roy Ferman, Seek's founder and CEO, for allegedly violating several federal laws, including Section 5 of the Federal Trade Commission Act ("FTC...more

Hinch Newman LLP

The FTC and Multi-Party Liability

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The FTC often initiates enforcement actions seeking to hold companies responsible for consumer injury caused by others or in which they directly participated in the misconduct. FTC CID and investigation attorney previously...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

Wiley Rein LLP

Wiley Consumer Protection Download (July 12, 2022)

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Regulatory Announcements- CFPB Issues Advisory Opinion on FCRA Permissible Purposes for Providing Consumer Reports. On July 7, the CFPB issued an Advisory Opinion on the Fair Credit Reporting Act (FCRA) that outlines...more

Goodwin

FTC Reaches $500,000 Settlement with Payment Processor for Its Role in Alleged Student Loan Debt Relief Scheme

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On November 8, 2021 the Federal Trade Commission (FTC) announced that it entered into a stipulated order with a payment processor, resolving allegations that the payment processor violated Section 5 of the Federal Trade...more

Wiley Rein LLP

Wiley Consumer Protection Download (March 15, 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

Goodwin

FTC Announces $114 Million Settlement with Payday Lenders

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On February 11, 2021, the Federal Trade Commission (FTC) announced a $114 million settlement with the owners and operators of an alleged tribal payday lending scheme.  The settlement resolves allegations concerning...more

Goodwin

FTC Distributes $1.7 Million to Affected Consumers in Alleged Student Loan Debt Relief Scam

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On February 10, 2021, the Federal Trade Commission (FTC) announced that it will begin distributing over $1.7 million to consumers that it claims lost money as a result of an alleged student loan debt relief scheme. The...more

Hudson Cook, LLP

Current Developments in Bank Deposits and Payment Systems (Spring 2020)

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This survey summarizes several recent developments affecting bank deposits and payment systems. These include payments-related consent orders and enforcement actions by the Consumer Financial Protection Bureau (“CFPB”) and...more

Morgan Lewis - All Things FinReg

FTC Settlement May Raise the Compliance Bar for Fintechs

The Federal Trade Commission (FTC) announced a settled action on April 22 with Canadian company RevenueWire (the Company) and its CEO to resolve allegations that the Company assisted and facilitated two tech-support scams...more

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