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FTC Encourages Consumers to Opt for Free Credit Monitoring, as part of Equifax Settlement
Equifax, Inc.
Equifax, Inc. agreed to pay at least $575 million, and potentially up to $700 million, as part of a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau (CFPB), and 50 U.S. states and territories to settle allegations that the credit reporting company's failed to take reasonable steps to secure its network.
Impetus Enterprise, Inc.
In November 2018, the Federal Trade Commission filed a complaint against recidivist Tuan Duong, among others, alleging he falsely promised to reduce students’ monthly loan payments or to eliminate or reduce their educational debts, but widely failed to deliver those services. The defendants also allegedly promoted a 96 percent success rate in reducing consumers’ student loan payments. In fact, the FTC alleged, the consumers who purchased these services often did not receive any debt relief and lost hundreds of dollars. The FTC alleged that the defendants charged consumers illegal upfront fees of $300 or more for these purported debt relief services. A federal court temporarily halted the scheme and froze its assets.
In May 2019, Duong, the ringleader of the scheme, agreed to settle the Commission’s charges that he bilked $11 million from consumers who were trying to reduce their student loan monthly payments or get loan forgiveness. Under the modified court order, Duong admits he violated the 2016 order and is now banned from the telemarketing industry. The proposed modified final order against Duong contains both injunctive and monetary relief. The order contains an $11,000,215.25 judgment as compensatory relief to the FTC and permanently bans Duong from the telemarketing industry.
In July 2019, both Avitia-Pena, president of Impetus Enterprise, Inc., and Jimmy Calderon, manager of Capital Sun Investments, LLC, settled the FTC’s charges alleging they conducted student loan debt relief operations associated with Duong. The $11 million settlement to be paid by Avitia-Pena represents gross revenues of Impetus Enterprise Inc.’s student loan debt relief operation. The order against Calderon and Capital Sun Investments contains a suspended judgment for $1.3 million, the gross revenues of Capital Sun Investments, LLC’s operation.
FTC Releases Agenda for Loot Box Workshop on August 7
FTC and Ohio Stop Rogue Payment Processor and a Credit Card Interest-Reduction Telemarketing Scheme that Allegedly Worked Together to Scam Consumers
FTC Announces New Public Web Page with Interactive Do Not Call and Robocall Data
Protecting Older Adults from Fraud: A Common Ground Conference
The a2 Milk Company (a2 Milk dairy products)
FTC Seeks Comments on Children’s Online Privacy Protection Act Rule
FTC Imposes $5 Billion Penalty and Sweeping New Privacy Restrictions on Facebook
FTC Sues Cambridge Analytica, Settles with Former CEO and App Developer
Dissenting Statement of Commissioner Rebecca Kelly Slaughter Regarding the Matter of FTC vs. Facebook
Dissenting Statement of Commissioner Rohit Chopra Regarding the Matter of Facebook, Inc.
Equifax to Pay $575 Million as Part of Settlement with FTC, CFPB, and States Related to 2017 Data Breach
Working Together to Protect Northern California Consumers: A Common Ground Conference
FTC Sends $68,000 in Refund Checks to Consumers Who Bought Lights of America LED Light Bulbs and Filed a Claim
The Future of the COPPA Rule: An FTC Workshop
FTC Approves Stipulated Order Settling Charges against Gerber Products Company
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