by Eric J. Ellman | Aug 13, 2024
In August 2024, the FTC announced “the owners and operators of a sprawling credit repair operation known as Financial Education Services (FES) will end the practices that the FTC alleged created a pyramid scheme and also violated the Credit Repair Organizations Act. ...
by Eric J. Ellman | Aug 13, 2024
In August 2024, as noted in a CFPB press release, the Bureau “filed a proposed order for enabling credit repair companies that harvest illegal fees.” The proposed order would “resolve its lawsuit against Credit Repair Cloud and CEO Daniel A. Rosen for providing...
by Eric J. Ellman | Feb 22, 2023
113th Congress H.R. 5446, the Facilitating Access to Credit Act of 2014 by Red. Ed Royce (R-CA). This bill would amend the Credit Repair Organizations Act (CROA) to (1) Exempt from its coverage any consumer reporting agency (or affiliate or subsidiary) described under...
by Eric J. Ellman | May 9, 2022
In May 2022, the FTC announced that “at the request of the [FTC], a federal court has temporarily halted a bogus credit repair scheme known as The Credit Game for promoting a series of lies and deceptions. The FTC alleged the scheme’s operators lied to credit...
by Eric J. Ellman | May 23, 2021
According to Investopedia, “[a] number of businesses claiming to do credit repair have sprung up over time, and while some may provide services that can assist consumers, the actual results of their efforts may be questioned.” Credit Karma says that...
