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Showing posts with the label FTC | Business Blog Update.

FTC | Business Blog Update - June 12, 2014: Deceptive mortgage ads hit close to home.

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Deceptive mortgage ads hit close to home By Lesley Fair The headline read ZIP.  ZERO.  NADA.  In big print, the ads also said 0 money down* and 0 for paid closing costs*.  Heritage Homes didn’t include ZILCH, BUPKES, or (for “Buffy the Vampire Slayer” fans) THE BIG GOOSE EGG, but the FTC says the meaning to prospective buyers was clear.  So how much truth was in that across-the-board “zero” claim?   According to the FTC's complaint:  Zip. Zero. Nada. Read more

FTC | Business Blog Update March 13, 2014: Needle and threats.

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Needle and threats By Lesley Fair The Fair Debt Collection Practices Act lays out some pretty clear dos and don’ts for debt collectors.  Do identify yourself as a debt collector.  Do follow up within five days of your initial communication with a written notice setting out the amount of the debt, the creditor's name, and details about how consumers can proceed if they dispute the debt.  Now for some don’ts:  Don’t imply a government affiliation.  Don’t accuse people of a crime or threaten them with arrest.  And don’t tell them that the Sheriff will be showing up at their home or place of business.  But according to a lawsuit filed by the FTC against United Check Processing, Inc., 12 related corporate defendants, and corporate officers Mark Briandi and William Moses, the defendants didn’t do the dos and did do the don’ts, in violation of the FDCPA and Section 5 of the FTC Act. Read more