When buying into a timeshare, many owners receive more weeks at the property than they could possibly use in their lives. This has created a second industry that focuses on reselling or renting out the properties. But, as the Federal Trade Commission showed this week, not all of these businesses are legitimate, some are just out to line their own pockets. [More]
illegal practices
L.A.-Based Auto Lender Must Pay $48M In Fines, Refunds For Illegal Collections
By 10.1.15
For the second time this week, the Consumer Financial Protection Bureau has flexed its muscles when it comes to reining in unscrupulous indirect auto loan financiers. Just days after taking action against Fifth Third Bank for auto-lending discrimination, the Bureau ordered a Los Angeles-based finance company and its auto title lending subsidiary to pay $48.3 million in fines and relief to affected borrowers stemming from a laundry list of allegedly illegal debt collection practices. [More]
FTC Puts A Stop To Three Debt Collection Operations Using Threatening Text Messages, Robocalls
By 5.21.15
For the most part, we can’t say many glowing things about the debt collection industry that has, in the past, been known for using a litany of abusive and deceptive practices to pry money from consumers. Three such companies will no longer be bothering people after the Federal Trade Commission temporarily shut down the operations for engaging in nearly all of the hallmarks of shady collectors: threatening lawsuits or arrest, impersonating law enforcement and government officials and illegally contacting supposed debtors. [More]
