Search Results: TSR

CFPB Permanently Bans Student Loan Servicer

On December 4, 2024, the CFPB announced that it entered into a proposed stip​​ulated judgment with a student loan servicer and its owner, resolving allegations that the student loan servicer violated the Telemarketing Sales Rule (TSR) and the Consumer Financial Protection Act (CFPA). According to the judgment, the servicer at issue and its owner illegally…

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California DFPI Announces Enforcement Actions Against Student Loan Debt Relief Companies

On September 17, 2024, the California Department of Financial Protection and Innovation (DFPI) announced ​it had taken enforcement action against three ​companies issuing two desist and refrain orders and one consent order against the businesses for allegedly charging unlawful fees for student loan debt relief services, in violation of the California Consumer Financial Protection Law…

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California Federal Court Bans Mortgage Operators as Result of Joint FTC and DFPI Case

​On February 2, 2024, the U.S. District Court for the Central District of California issued an order permanently banning several companies and their owners from the telemarketing and debt relief businesses and requiring them to pay approximately $19 million in restitution and civil money penalties​.  This order came as a…

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Illinois Federal Court Issues Injunction and $28.7 Million Judgment Against Telemarketing Operation

On January 31, the Federal Trade Commission announced that a federal court in Illinois entered final orders against a telemarketing company and its owners as part of a judgment against an allegedly illegal telemarketing scheme. In the lawsuit, the FTC accused the defendants of making millions of illegal, unsolicited calls to people who were…

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CFPB Enters Settlement with Credit Repair Conglomerate for $2.7 Billion

On August 28, the CFPB announced ​it reached a proposed settlement agreement with a credit repair conglomerate for $2.7 billion. The parties await approval of the proposed settlement by the U.S. District Court for the District of Utah. In its amended​ complaint filed last August, the CFPB alleged that the defendant companies collected advance…

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FTC Brings Action Against Two Companies Involved in Illegal Student Loan Relief Schemes

On May 8, 2023 the FTC announced that it filed complaints against two loan forgiveness and debt relief companies on April 24, 2023 alleging that they falsely claimed to be affiliated with the Department of Education. The companies allegedly told students that certain fee payments would count toward repayment programs and student…

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FTC Obtains Permanent Injunction Against For-Profit Medical School

FTC

On April 15, 2022, the Federal Trade Commission (FTC) announced that it obtained a permanent injunction against an Illinois-based, offshore, for-profit medical school for deceptive marketing practices. In its complaint ​and stipulated ​order​ filed same-day in the U.S. District Court for the Northern District of Illinois, the FTC alleged that the school violated the Telemarketing Sales Rule (TSR) when…

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FTC Announces Settlement With Remaining Defendants in Student Loan Debt Relief Action

FTC

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…

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CFPB Settles With Chicago-Based Payment Processer Over Services Provided to Telemarketers

On January 18, the Consumer Financial Protection Bureau (CFPB) announced that it had agreed to a settlement with a payment processing company, resolving allegations that the company assisted third parties in profiting from fraudulent services and products.  The proposed stipulated judgment, if entered by the court, will resolve allegations that the company was processing…

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CFPB Sues Software Company for Allegedly Supporting Illegal Credit-Repair Fees

On September 20, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it had filed a lawsuit in the U.S. District Court of the Central District of California against a California-based software company and its owner.  The complaint alleges that the software company violated the Telemarking Sales Rule (TSR) and Consumer Financial…

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California Settles with Student Loan Debt Relief Company for Allegedly Collecting Illegal Fees

​On August 9, 2021, the California Department of Financial Protection and Innovation (DFPI) announced ​that it had entered into a settlement agreement with a Tustin-based student loan d​ebt relief company, resolving allegations that the company violated the California Consumer Financial Protection Law (CCFPL) when it collected illegal advance fees under the Telemarketing Sales Rule (TSR). This settlement comes as the…

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FTC Settles with Two Florida-Based Companies for Allegedly Providing Assistance to Student Debt Relief Scam

FTC

​On July 12, 2021, the Federal Trade Commission (FTC) announced a settlement with two Florida-based companies and their CEO, resolving allegations that the companies aided a student debt relief scam by providing false or deceptive information in order to obtain merchant processing for the scheme. The settlement will permanently bar the two…

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CFPB Files Complaint and Proposed Order Against Debt Relief and Credit Repair Company, Seeking Permanent Ban

On June 29, 2021, the Consumer Financial Protection Bureau (CFPB) announced it filed a proposed stipulated order with a Maryland-based debt relief and credit repair company concerning alleged violations of the Telemarketing Sales Rule (TSR) and the Consumer Financial Protection Act (CFPA). If accepted by the court, the order would ban the company and its…

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CFPB and Debt Settlement Company Agree to Stipulated Final Judgment and Order

​On May 17, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it has entered​ into a stipulated judgment​ and order​ to resolve a civil action that it previously filed against a debt settlement company in the U.S. District Court for the District of Massachusetts on December 1, 2020, as previously reported he​​re. ​The CFPB initially filed suit against the debt settlement company…

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CFPB Settles with Online Debt-Settlement Company for Alleged CFPA and TSR Violations

On April 13, 2021 the Consumer Financial Protection Bureau (CFPB) announced that it reached a settlement with an online debt-settlement company to resolve alleged violations of the Consumer Financial Protection Act (CFPA), 12 U.S.C. §§ 5531, 5536(a), 5564, 5565, and the Telemarketing Sales Rule (TSR), 6 C.F.R. Part 310. According to the complaint, the…

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CFPB File Suit Against Payment Processor for Allegedly Facilitating Internet-based Scam

On March 3, the Consumer Financial Protection Bureau (CFPB) announced that it filed a complaint in the U.S. District Court for the Northern District of Illinois against a Chicago-based payment processor for alleged violations of the Consumer Financial Protection Act (CFPA), 12 U.S.C. §5531 and 5536(a)(1)(B), the Consumer Fraud and Abuse Prevention Act (Telemarketing Act), 15…

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FTC Announces $114 Million Settlement with Payday Lenders

FTC

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…

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