Minnesota AG obtains judgment against unlicensed debt collection company

Global Gateway fake debt collectionOn May 15, 2017, the Minnesota Attorney General’s office issued a press release announcing that it had obtain a judgment against Global Gateway Solutions, Inc. for making unlicensed collection calls attempting to collect fake payday loan debts from consumers. The judgment bars Global Gateway from collecting debt in the state of Minnesota and requires the company to pay a civil money penalty and restitution to Minnesota consumers. ​​

FDIC announces settlements with Wisconsin banks for unfair and deceptive practices

On May 11, 2017, the FDIC issued a press release announcing settlements with Bank of Lake Mills, Lake Mills, Wisconsin, and two of its institution-affiliated parties, Freedom Stores, Inc. and Military Credit Services, LLC (MCS), resolving allegations that the lenders violated Section 5 of the Federal Trade Commission (FTC) Act, which prohibits unfair and deceptive practices.