Debt Relief Compliance Attorney
reliefwatch May 10, 2018
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US consumer borrowing up $11.6 billion in March By MARTIN CRUTSINGER, AP ECONOMICS WRITER May. 07, 2018 WASHINGTON — May 7, 2018, 3:12 PM ET Americans increased their borrowing by $11.6 billion in March as a big increase in the category that covers auto and student loans offset the largest monthly drop in credit card […]

Felix Shipkevich April 27, 2018
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Lending Club Ignores Warnings, Charged for Misleading Consumers by FTC The Federal Trade Commission has charged the Lending Club Corporation with falsely promising consumers they would receive a loan with “no hidden fees,” when, in actuality, the company deducted hundreds or even thousands of dollars in hidden up-front fees from the loans. “This case demonstrates the importance […]

Felix Shipkevich April 9, 2018
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10 Takeaways from New Washington State Student Debt Relief Laws This June Washington State student-borrowers struggling with student debt will benefit from House Bill No. 1169, the Student Opportunity, Assistance, and Relief Act (SOAR). The new law updates student debt collection laws for private student loans, primarily repealing license suspension laws for professional licenses or […]

Felix Shipkevich March 28, 2018
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FDIC Orders Cross River Bank and Affiliates $20 Million in Restitution to Consumers The Federal Deposit Insurance Corporation (FDIC) announced settlements with Cross River Bank, Teaneck, New Jersey, and its institution-affiliated party, Freedom Financial Asset Management, LLC (FFAM), San Mateo, California, for unfair and deceptive practices in violation of Section 5 of the Federal Trade […]

Felix Shipkevich March 27, 2018
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FTC and NY Attorney General Ban Debt Collectors From Industry Last week the FTC announced that on March 20th the U.S. District Court for the Western District of New York finalized orders to permanently ban seven debt collection companies and three individual defendants from the bebt collection industry. The order against Travell Thomas and his company […]

Felix Shipkevich March 20, 2018
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The Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) share overlapping jurisdiction on debt collection, payday lending, and consumer financing. The FTC has been around for decades establishing itself as the largest federal consumer protection agency taking action against telemarketing fraud, false advertising, identity theft, and take legal action against businesses that […]

Felix Shipkevich February 13, 2018
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FTC Refunds United Debt Counselors Victims Today the FTC refunded over $480,000 to United Debt Counselors, LLC costumers misled into paying upfront fees. In March 2017 the FTC reached a settlement with United Debt Counselors and imposed a $9 Million judgement representing the amount illegally charged in advance. The FTC complaint filed that February alleged […]

Felix Shipkevich January 17, 2018
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The CFPB attempts to stop payday loan “debt traps” with its new payday rule On October, 2017 the CFPB issued a final rule entitled “Payday, Vehicle Title, and Certain High-Cost Installment Loans,” also known as the Payday Rule, which it had been eyeing since 2013 when it started collecting consumer data on borrowed loans. In 2014 the […]

Felix Shipkevich January 8, 2018
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Today, January 8th, electronic toy manufacturer VTech agrees to settle FTC Chargers alleging the company violated both U.S children’s privacy law and FTC Act. This marks the first FTC case involving children’s privacy security through connected toys. The Department of Justice filed a complaint on behalf of the FTC which claims that VTech collected personal […]

Felix Shipkevich December 19, 2017
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Fake Prize Scheme Operation FOR RELEASE December 18, 2017   The Federal Trade Commission has closed the book on a fake prize scheme that tricked people into paying $25 to collect a $1 million prize they supposedly had won. Those who paid got nothing. After weighing written arguments from the FTC and the defendants, a […]