The Federal Trade Commission announced today:
The Federal Trade Commission is mailing almost 95,000 checks totaling approximately $4 million to consumers who lost money to a debt collection operation that extorted payments from them using false threats.
In May 2014, the FTC settled charges against Asset Capital and Management Group, which, under various names, illegally extracted payments from consumers for credit card debt the defendants had purchased from creditors. The settlement order banned the defendants from the debt collection industry.
The FTC's press release is here.
This is an example of what needs to be done by our federal government. There are those who think the FTC should be de-funded. As it is with payday loan companies it's the wild west out there.
Posted by: Bil Tiwald | Wednesday, July 08, 2015 at 10:10 PM