Links in “FTC”

Consumer Portfolio Services, Inc. agreed to pay over $5.5 million to settle charges from the FTC involving violations of the Fair Debt Collection Practices Act and the Fair Credit Reporting Act. Director of the FTC, Jessica Rich, was unapologetic in underscoring the clarity of the law and the blatant abuse from CPS. In addition to charges for misleading, over-charging, and harassing consumers, CPS is also charged for not establishing reasonable written procedures and for failing to properly and promptly respond to consumer disputes. [5/30]

FTC report focuses on speculative harm (potential denials, potentially higher rates) of the data collection practices of big data brokers. "An unknown person standing in your bedroom at night may not do any harm," but you'd probably prefer more privacy, even if the lurker is merely wanting to see if you're in the market for sleeping pills. [5/28]

Southern California debt collection operation Asset Capital and Management Group will pay more than $4 million for consumer redress to settle with FTC over charges of extorting payments and threatening consumers. [5/22]

The FTC charges mortgage lead generator with violating the Mortgage Acts and Practices Advertising Rule (MAP) as a result of deceptive marketing and practices. [5/9]

That’s the claim being made by a non-profit group funded by the paper, print and direct mail industries about the campaigns launched by many credit unions on Earth Day to promote e-statements and other paperless services. The non-profit group states that is has already had success in convincing a number of banks and Fortune 500 companies that these types of campaigns violate the FTC’s guidelines for green marketing. [4/23]

FDIC's regional offices are issuing guidance on how overdraft practices may be considered an unfair or deceptive act or practice under Section 5 of the FTC act. [4/17]

An outspoken critic of the indirect auto lenders was in the audience at a recent CFPB forum and was called upon to speak as an audience participant. What the audience didn't know was that the CFPB had flown him in and put him up. Makes one wonder what the FTC would have to say about that. [4/16]

When it comes to unfair or deceptive acts, payday lenders that claim ties to Native American tribes are not beyond the reach of the Federal Trade Commission, a U.S. District Court judge rules. [3/20]

Of all consumer complaints, identity-theft-related complaints topped the list at 14%. Here are some resources provided by the Federal Trade Commission to help educate consumers. [3/17]

FTC notes increased actions regarding enforcement of Fair Debt Collection Practices Act citing various cases brought during 2013. While actions were largely directed at third-party debt collectors, best-practice lessons remain: Ensure authorized contacting of third parties about consumers’ debts, disclose name of involved collectors and facts associated with debt collection efforts, and notify consumer of rights to dispute and obtain verification of their debts. [3/6]