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Kushly Industries LLC, In the Matter of

In May 2021, the FTC filed a complaint against Kushly Industries LLC and its CEO, Cody Alt, for allegedly marketing products containing cannabidiol (CBD) using unsubstantiated health and establishment claims. According to the complaint Kushly sold a variety of CBD products to the public through its website, kushly.com, and social media platforms from January 2019 to August 2020. The FTC order announced at the same time as the complaint banned the company and Alt from the alleged illegal conduct. The Commission approved the final order in July 2021. In August 2022, the FTC announced it was returning almost $21,000 to defrauded consumers.

Type of Action
Administrative
Last Updated
FTC Matter/File Number
202 3111
Case Status
Pending

Student Advocates Team, LLC, et al.

In September 2019, the FTC announced a complaint against the operators of two student loan debt relief schemes, and a financing company that assisted them, with bilking millions of dollars from consumers. The FTC alleged Manhattan Beach Ventures and Equitable Acceptance Corporation and Student Advocates Team, and the financing company that assisted them illegally charged upfront fees that the companies led consumers to believe went towards their student loans, and falsely promised that their services would permanently lower or even eliminate their loan payments or balances. On August 18, 2022, the FTC it was sending more than $822,000 back to defrauded consumers.

Type of Action
Federal
Last Updated
FTC Matter/File Number
172 3036
Case Status
Pending
Federal Register Notice

Commercial Surveillance and Data Security Rulemaking

Date
Overview Commercial surveillance is the business of collecting, analyzing, and profiting from information about people. Technologies essential to everyday life also enable near constant surveillance...

LendingClub Corporation

The Federal Trade Commission is returning more than $10 million to consumers who were charged undisclosed fees by online lender LendingClub Corporation. The FTC is distributing refunds directly to more than 15,000 LendingClub customers and encouraging additional LendingClub customers to apply for refunds.

The FTC sued LendingClub in April 2018, charging that the company falsely promised loan applicants that they would receive a specific loan amount with “no hidden fees,” when in reality the company deducted hundreds or even thousands of dollars in hidden up-front fees from the loans. The FTC also alleged that LendingClub told consumers they were approved for loans when they were not and took money from consumers’ bank accounts without authorization.

The Federal Trade Commission is sending payments totaling more than $9.7 million to 61,990 consumers who were charged hidden fees by LendingClub Corporation.

These payments are the result of a claims process conducted by the FTC in February 2022. It is the second distribution of funds in this matter and brings the total amount refunded to consumers to more than $17.6 million.

Type of Action
Federal
Last Updated
FTC Matter/File Number
162 3088