FTC-PR-240313-1 (Mar. 13, 2024) FTC Sends More Than $4.1 Million in Refunds to People Who Lost Money to Student Loan Debt Relief Scheme – Agency said scammers lured consumers with fake loan forgiveness and pocketed their money. The Federal Trade Commission is sending more than $4.1 million in refunds to people who lost money to […]
Category: Refunds to Consumers
Refunds to Consumers from regulatory agencies occur when these agencies, such as the Federal Trade Commission (FTC) or Consumer Financial Protection Bureau (CFPB), intervene to rectify situations where companies have violated consumer protection laws. These agencies may mandate refunds or restitution to affected consumers as part of enforcement actions against businesses that have engaged in deceptive practices, false advertising, or other forms of misconduct. The refund process typically involves identifying eligible consumers, calculating the amount owed, and distributing the funds to ensure that those harmed are compensated. This mechanism helps restore consumer trust and provides financial redress for those who have been wronged.
FTC-PR-240216-1 (Feb. 16, 2024) FTC, California DFPI Case Leads to Ban Against Operators of Mortgage Relief Scam Home Matters USA – Court finds defendants deceived thousands of consumers, requires payment of $19 million for consumer refunds and civil penalties A federal court has issued an order banning the operators of the Home Matters USA mortgage […]
FTC-PR-240208-1 (Feb. 8, 2024) FTC Sends Refunds to Consumers Harmed by a Tech Support Scam Facilitated by Payment Processor Nexway The Federal Trade Commission is sending more than $610,000 in refunds to consumers who lost money to a tech support scam facilitated by the payment processing company Nexway. Date: Feb. 8, 2024 Accessed: Sep.9, 2024 […]