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Washington
Inside Washington (04/20/2011)
* WASHINGTON (4/21/11)--The Department of Housing and Urban Development (HUD)on April 15 warned lenders of pending guidelines that will tighten the rules regarding when its name, initials or logo may be attached to websites and other marketing materials (American Banker April 20). The department will impose penalties and fines on lenders or third-party loan originators that seem to exaggerate their ties to HUD or make their websites or publications appear to be tied to the U.S. government … * WASHINGTON (4/21/11)--The Federal Trade Commission (FTC) this week filed contempt charges against Sam Tarad Sky, Allrepco LLC, Credit Restoration Brokers LLC and Debt Negotiations Associates LLC, alleging that deceptive promotional practices by the credit/debt relief providers violate a previous federal court order. The FTC alleges that the trio of defendants charged initialization fees for credit repair services and did not provide adequate disclosure of their debt relief services. The defendants also encouraged customers to lie about their economic situation to illegally qualify for government-provided food stamps, and charged consumers for their credit, debt relief and food stamp “products.” The FTC legal action was field on April 12 ...


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