On September 1, 2022, the Federal Trade Commission (FTC) announced that it reached a settlement with a personal finance company to resolve allegations that it engaged in deceptive acts or practices in violation of Section 5(a) of the Federal Trade Commission Act (FTCA), 15 U.S.C. § 45(a). According to the FTC, the personal…
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’ credit scores. The injunction was issued by the United States District Court for the Southern District of Texas in relation…
On January 26, 2022, the Federal Trade Commission (FTC) announced that it resolved claims against the remaining defendants in an action concerning student loan debt relief products and services that commenced in 2019. As we previously reported, the FTC filed a complaint against a collection of interrelated companies in November 2019, alleging that they used fraudulent…
On January 7, the Federal Trade Commission (FTC) announced that it had agreed to a settlement with a company that collected and generated leads for financial services products. In its simultaneously-filed complaint in the U.S. District court for the Central District of California, the FTC alleged that the company collected consumer data through a network…
On December 13, 2021, the Federal Trade Commission (FTC) announced that it reached a settlement with a group of South Carolina-based debt collection companies to resolve allegations that the companies violated the Federal Trade Commission Act (FTC Act) and the Fair Debt Collection Practices Act (FDCPA). The FTC’s complaint, originally filed in July…
On September 9, the Office of the Comptroller of the Currency (OCC) announced that it issued a $250 million civil money penalty against a national bank for alleged deficiencies in the bank’s home lending loss mitigation program, and for purportedly failing to meet its obligations under a 2018 consent order…
On May 10, 2021, the Federal Deposit Insurance Corporation (FDIC) announced a settlement with an Oregon-based bank concerning the bank’s alleged violations of Section 5 of the Federal Trade Commission Act (FTC Act), 15 U.S.C. § 45(a)(1). Under the settlement, the bank stipulated to the issuance of an order to pay a civil money penalty of $1.8 million. The FDIC…
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 defendants’ purported violations of the unfair or deceptive practice provisions (UDAP) of the Federal Trade Commission Act (FTC Act), 15 U.S.C. § 45(a), the Telemarketing and Consumer Fraud…
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 payments are part of a 2018 settlement with a student debt relief group, previously covered by Enforcement Watch, that resolved…
On February 10, 2021, the Federal Trade Commission (FTC) announced settlements with two payment processing companies and two individuals, resolving claims concerning an alleged credit card laundering scheme perpetrated in violation of the Federal Trade Commission Act (FTC Act), 15 U.S.C. § 53(b), and the Telemarketing and Consumer Fraud and Abuse Act (Telemarketing Act), 15 U.S.C. §§…