Consumers Can Recover On All Bad Credit Deals, FTC Says

Law360, New York (May 10, 2012, 7:48 PM EDT) -- The Federal Trade Commission on Thursday boosted consumers' ability to recover funds for all fraudulent merchant credit contracts under the agency's Holder in Due Course rule, issuing a rare advisory opinion that rejected several court rulings limiting recovery to deals that had been rescinded.

In response to a request by the National Consumer Law Center and several others, the FTC released an advisory opinion affirming that the rule places no limits on a consumer's right to an affirmative recovery of payments already made, despite at least...
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