FTC Wins $2.3M Consent Judgment Over Credit Card Scam

Law360, New York (July 16, 2013, 5:32 PM EDT) -- The FTC on Monday won a $2.3 million consent judgment against National Card Monitor, a credit rating assistance agency, in a suit claiming the corporation used telemarketing sales to push deceptively advertised credit services and shirked its money-back guarantee.

In a lawsuit filed in Arizona federal court, the FTC said the company charged customers upfront between $499 and $599 for assistance in transferring their high-interest credit card debt to a new lower-interest card and offered a money-back guarantee if they were not approved for the new line of credit.

“In most...
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