North Carolina court enters $35 million judgment against illegal debt relief companies

North Carolina AG debt reliefOn March 9, 2017, the North Carolina Attorney General (AG) issued a press release announcing that a North Carolina Superior Court had issued a ruling against three debt relief companies. The court permanently banning the companies from advertising or performing any debt relief services, legal services or any related services in North Carolina and entered final judgments and assessed civil penalties.


FTC reaches $1.7 million settlement with mortgage relief scam defendant

On February 23, 2017, the Federal Trade Commission (FTC) issued a press release announcing that it had entered into a stipulated order with a defendant in an alleged mortgage relief scam.

The defendant, Gabriel Stewart was the last of six defendants to resolve charges brought by the FTC in July 2014. The FTC alleged that the defendants were involved in a mortgage relief scam that “preyed upon distressed homeowners,” including elderly consumers.


What debt collectors can learn from the FTC settlement with GC Services

what debt collectors can learn from FTC settlementLast week, we wrote about the settlement agreement between the FTC and debt collector GC Services Limited Partnership. In most circles, the $700,000 civil money penalty would be the most significant aspect of the settlement. In our opinion, however, the most noteworthy and valuable information appears in the sections of the consent order that prohibit GC from engaging in specific collection practices and in the detailed descriptions that lay out how GC must perform certain collection activities.


Ocwen to pay $225 million for mortgage servicing violations

Ocwen mortgage settlementMortgage servicer Ocwen will pay $225 million in refunds and loan forgiveness to California consumers after entering into a consent order with the California Department of Business Oversight (California DBO) last week.

According to the California DBO’s February 17, 2017 press release, an independent investigation of Ocwen’s mortgage servicing practices revealed hundreds of violations of state and federal law that occurred between January 2012 and June 2015.


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