Victims to Get Back $18M from Wire-Transfer Scams

More than 34,000 checks totaling nearly $18 million are being mailed to those identified as victims in a series of cross-border fraud schemes that involved payments through MoneyGram International, the second-largest U.S. wire-transfer company. The Federal Trade Commission is arranging the mailings. The redress checks average $520, and the FTC urges consumers to cash them within 60 days.

Credit Card Rate Scams: Don’t Fall for Robocalls, FTC Says

Consumers are getting “inundated” with so-called robocalls – pre-recorded sales pitches – from firms claiming they can reduce your credit card interest rates for a fee, said the Federal Trade Commission. Don’t fall for it, the federal agency warns. As with any advance-fee service, a great deal of caution and skepticism is warranted.

FTC to Mail $6M in QVC Refunds Over Bogus Diet Pills

Starting April 30, the Federal Trade Commission will start mailing out 140,000 refund checks totaling about $6 million to buyers of dietary supplements that were falsely marketed as helping women lose substantial weight while eating fatty and high-carb foods. The weight-loss pills were sold under the “For Women Only” brand by television’s home shopping channel, QVC.

Facebook Privacy: Should FTC Set Social Media Guidelines?

When Facebook first revealed it would share personal profile information with third-party partner sites, users and privacy advocates voiced concerns and anger. Now a U.S. Senator wants the Federal Trade Commission, the agency that protects consumers from advance-fee schemes, deceptive marketing practices and credit card scams, to consider if federal guidelines are necessary to protect social media site users from privacy violations.

Debt Collection, Relief: Abusive Tactics Eyed by FTC

The Federal Trade Commission told a Senate panel that it is intensifying efforts to combat deceptive and abusive practices by debt collection agencies and outright debt relief scams – as more consumers seek help in these recessionary times. The FTC said it is reviewing public comments on a proposal to amend telemarketing sales rules tied to debt relief advertising.

FTC: Credit Card Debt Settlement Tips, Red Flags

The Federal Trade Commission today is urging caution for those with mounting credit card debt who seek companies that promise “pennies on the dollar” solutions. There is no guarantee that a debt settlement company can convince a credit card issuer to accept only a partial payment for the full, legitimate debt, the FTC said.

‘Free Credit Reports’ Rule Applies to TV, Radio Ads on Sept. 1

The new required disclaimer for credit monitoring services promoting “free credit reports” on websites and print publications took effect April 2. Those ads must remind consumers that they are entitled to one free credit report from each credit bureau under federal law, and provide the official link: AnnualCreditReport.com.

Rule Clarifying Online ‘Free Credit Report’ Offers in Effect

A new Federal Trade Commission rule that helps consumers avoid confusion over those ads for “free credit reports” – which often require them to buy credit monitoring or other services – takes effect today. Those ads must now include disclosures telling consumers that they can obtain one free credit report from each of the three reporting bureaus for free under federal law.

Charity Telemarketing Scheme Draws Record $18.8M Penalty

A New Jersey-based telemarketing operation that misled consumers into believing they were giving directly to legitimate charities serving police, firefighters, and veterans has to pay a record $18.8 million and leave the donation business, said the Federal Trade Commission. The civil penalty against Civic Development Group, LLC; CDG Management LLC; and owners Scott Pasch and David Keezer is the largest ever in an FTC consumer protection case, the FTC said.

FTC Settles with Auto Loan Marketer to Poor Credit Victims

A marketer who falsely advertised auto loans as pre-approved to low-income, “credit-challenged” consumers has reached an agreement with the Federal Trade Commission. The FTC alleged that Direct Marketing Associates Corp. and its president and owner, John M. Rainey, Jr. also improperly obtained names of consumers from a credit reporting agency.

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