The Federal Trade Commission (FTC) has adopted a new strategy to obtain monetary relief in the state of California following the U.S. Supreme Court’s earlier ruling in AMG Capital. According to an article printed by JD Supra from Foley & Lardner LLP …
“On September 19, 2022, the Federal Trade Commission (FTC) and the California Department of Financial Protection and Innovation (DFPI) filed their first joint lawsuit in California federal court against several companies, and their alleged owners, for operating an allegedly illegal mortgage relief operation. In FTC v. Green Equitable Solutions, et al., Case No. 2:22-cv-06499 (C.D. Cal. 2022), the FTC and DFPI allege that the companies charged consumers thousands of dollars with false promises that they would negotiate with consumers’ mortgage lenders to alter their loans, at times even representing they were affiliated with government COVID-19 relief programs.
This is the first case in which the FTC has partnered with the DFPI to enforce federal and California consumer protection laws. The complaint relies in part on the enforcement powers of the California Consumer Financial Protection Law (CCFPL), enacted in 2020.”
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