Gov't Refund Business Settles FTC Deception Claims

Law360, New York (November 26, 2013, 7:09 PM EST) -- An Oregon company peddling supposed opportunities to profit off unclaimed government mortgage insurance refunds resolved a Federal Trade Commission complaint Monday, agreeing to pay a civil penalty and offer additional disclosures regarding its business before collecting customer fees again.

Under the settlement, Smart Tools LLC and two of its principals agreed to cease violating 2011 amendments to the FTC’s Business Opportunity Rule designed to help consumers better evaluate a proffered endeavor by requiring business opportunity sellers to provide comprehensive information on claims of earning potential....
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