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FTC and CFPB sue foreclosure-relief fraudsters

Posted on by Scott Michelman

According to The Hill,

The Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) announced Wednesday they are taking action against dozens of companies that they allege falsely promised to help distressed homeowners prevent foreclosure and lower their monthly payments.

Several state regulators joined the two federal agencies in suing more than 40 law firms who allegedly collected fees for foreclosure-relief services they never performed. Many of the scammers disappeared after collecting the money, according to the regulatory agencies.
 
Read more here. Complaints in the various lawsuits are linked from this CFPB page.
 
Scott Michelman

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