The Federal Trade Commission announced today that the agency returned approximately $12.7 million to consumers this week from a settlement with Andris Pukke and his companies, AmeriDebt, Inc. and DebtWorks, Inc. This consumer redress concludes the largest credit counseling/debt management deception case brought by the FTC. In addition, more than $7 million will be returned […]
Category Archives: Federal Trade Commission
FTC’s AmeriDebt Lawsuit Resolved: Almost $13 Million Returned to 287,000 Consumers Harmed by Debt Management Scam
The Federal Trade Commission announced today that the agency returned approximately $12.7 million to consumers this week from a settlement with Andris Pukke and his companies, AmeriDebt, Inc. and DebtWorks, Inc. This consumer redress concludes the largest credit counseling/debt management deception case brought by the FTC. In addition, more than $7 million will be returned […]
FTC Announces Public Workshop on Basics of the Premerger Notification Program
The Federal Trade Commission today announced that the Bureau of Competition’s Premerger Notification Office will host a half-day workshop on the basics of the U.S. premerger notification program in Washington, DC, on October 23, 2008. The workshop, which is free and open to the public, is being held in recognition of the 30th anniversary of […]
FTC Obtains Court Order Against Husband-Wife Credit Repair Team
The Federal Trade Commission charged two credit repair marketers with violating federal law by collecting advance payment for credit repair services and falsely promising to remove derogatory information from consumers’ credit reports – even if the information is accurate and not obsolete. At the Commission’s request, a federal court halted the defendants’ allegedly unlawful business […]
FTC Obtains Court Order Against Husband-Wife Credit Repair Team
The Federal Trade Commission charged two credit repair marketers with violating federal law by collecting advance payment for credit repair services and falsely promising to remove derogatory information from consumers’ credit reports – even if the information is accurate and not obsolete. At the Commission’s request, a federal court halted the defendants’ allegedly unlawful business […]
FTC Testifies on Prepaid Phone Card Fraud
The Federal Trade Commission today told the U.S. Senate Committee on Commerce, Science, and Transportation that while the FTC will continue its aggressive law enforcement and consumer education programs in the prepaid calling card arena, pending legislation would benefit consumers by providing “an additional remedy to those already available to the Commission.” FTC Chairman William […]
Bear Stearns and EMC Mortgage to Pay $28 Million to Settle FTC Charges of Unlawful Mortgage Servicing and Debt Collection Practices
The Bear Stearns Companies, LLC and its subsidiary, EMC Mortgage Corporation, have agreed to pay $28 million to settle Federal Trade Commission charges that they engaged in unlawful practices in servicing consumers’ home mortgage loans. The companies allegedly misrepresented the amounts borrowers owed, charged unauthorized fees, such as late fees, property inspection fees, and loan […]
Bear Stearns and EMC Mortgage to Pay $28 Million to Settle FTC Charges of Unlawful Mortgage Servicing and Debt Collection Practices
The Bear Stearns Companies, LLC and its subsidiary, EMC Mortgage Corporation, have agreed to pay $28 million to settle Federal Trade Commission charges that they engaged in unlawful practices in servicing consumers’ home mortgage loans. The companies allegedly misrepresented the amounts borrowers owed, charged unauthorized fees, such as late fees, property inspection fees, and loan […]
FTC Commissioners React to Department of Justice Report, Competition and Monopoly: Single-Firm Conduct Under Section 2 of the Sherman Act
Today the U.S. Department of Justice (DOJ) independently issued a report on Section 2 of the Sherman Act, the statute that protects Americans from predatory or monopolistic harm. The Federal Trade Commission does not join or endorse this report. Commissioners Pamela Jones Harbour, Jon Leibowitz, and J. Thomas Rosch jointly issued a statement responding to […]
FTC Commissioners React to Department of Justice Report, Competition and Monopoly: Single-Firm Conduct Under Section 2 of the Sherman Act
Today the U.S. Department of Justice (DOJ) independently issued a report on Section 2 of the Sherman Act, the statute that protects Americans from predatory or monopolistic harm. The Federal Trade Commission does not join or endorse this report. Commissioners Pamela Jones Harbour, Jon Leibowitz, and J. Thomas Rosch jointly issued a statement responding to […]