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Attorney General James Warns Consumers to Remain Vigilant Against Rise in Telephone Scams
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CONSUMER ALERT: Attorney General James Warns Consumers to Remain Vigilant Against Rise in Telephone Scams
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FTC Permanently Bans Collection Agencies From Debt Collection Published on: 17 March 2021 at 10:00 a.m. ET March 17, 2021, 10 a.m. March 17, 2021, 2:01 p.m. insideARM.com The iA Institute
In tandem with federal and state regulators and attorneys general, On September 29, 2020, the FTC launched
Operation Corrupt Collector to target collectors who engage in unauthorized and abusive collection practices. Simultaneously, the FTC announced it filed suit and had obtained temporary restraining orders against National Landmark Logistics (National) and Absolute Financial Services (Absolute).
Wasting no time in showing they mean business, on March 15, 2021, the
FTC announced that, through a settlement, both National and Absolute have been permanently banned from the debt collection industry. The FTC did not mince words, stating the following actions led to these results:
Federal trade commision initiative created to stop corrupt debt collectors
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Debt collectors, payday lenders collected over $500 million in federal pandemic relief Peter Whoriskey, Joel Jacobs, Aaron Gregg © Michael S. Williamson/The Washington Post A customer leaves a payday loan store in Maryland. The check-cashing and payday loan services industry has thousands of branch offices nationwide. A Texas firm that describes itself as one of the nation’s largest medical bill collectors was racking up consumer complaints last year. “For months this company has been reporting inaccurate, unverifiable, erroneous things on my credit report and I am sick of it!!!” states one consumer’s report to the Consumer Financial Protection Bureau in January 2020.