FTC Consumer Protection Gains
When the Federal Trade Commission (FTC) files lawsuits against companies offering payday loans or other debt relief or assistance programs, do consumers in Chicago ever see any of the funds that come from the settlements? According to a recent report from Legal News Line , the FTC recently indicated that it plans to provide more than 145,000 consumers with almost $20 million in compensation from the company One Technologies LP and two of its partner companies. FTC Lawsuit for Fraudulent Debt and Credit Assistance Programs Why is the FTC returning more than $20 million to hundreds of thousands of consumers that had a connection to One Technologies LP? As the article explains, the organization and its partner companies “ran an online scheme that attempted to convince consumers that it provided ‘free’ credit score access.” The FTC indicated that the defendants not only took an initial fee from consumers who signed up for those services, but the defendants also charged consu...