Operators Of Credit Repair Business Masquerading As The FTC Must Return $2.4M To Consumers

Operators Of Credit Repair Business Masquerading As The FTC Must Return $2.4M To Consumers

Three months after regulators shut down a credit repair company catering mainly to Spanish-speaking consumers for falsely claiming to have a close relationship with the federal government – calling itself “FTC Credit Solutions” – and bilking thousands of dollars from individual consumers with empty promises of boosting their credit scores, the real Federal Trade Commission announced it has reached a settlement that will result in the return of $2.4 million to victims of the scam. [More]

Complaint Alleges LifeLock Violated 2010 FTC Settlement By Continuing To Make False Claims

Complaint Alleges LifeLock Violated 2010 FTC Settlement By Continuing To Make False Claims

Back in 2010, identity theft protection company LifeLock entered into an $11 million settlement with federal regulators and several states regarding its use of allegedly false claims regarding the effectiveness of its services. According to those same regulators, the company has violated that agreement by continuing to make claims that fail the truth test.  [More]

(Phil's 1stPix)

Regulators Gearing Up To Take Action On Slow-Moving Takata, Jeep Recall Fixes

After months of expressing concern over the slow-moving pace automobile and parts manufacturers have taken to remedy defects associated with nearly 1.5 million Jeeps that can explode following low-speed rear-end collisions and more than 25 million vehicles equipped with defective, shrapnel-shooting airbags, the National Highway Traffic Safety Administration is poised to take aggressive action to better ensure the safety of owners of those vehicles.  [More]

You Have Until Friday To Tell The Fed That Their Proposed New Credit Card Rules Aren't Enough

You Have Until Friday To Tell The Fed That Their Proposed New Credit Card Rules Aren't Enough

The Federal Reserve Board has set this Friday, October 12th, as the deadline for hearing any comments regarding Regulation Z, its proposed set of modified guidelines for the credit card industry. According to experts who aren’t on the credit card companies’ payrolls, the new rules are a weak fix that does little to protect consumers.