(Source: Media-Newswire.com) – The Federal Trade Commission put an end to three schemes that claimed they would help consumers with their mortgage and debt problems, as part of settlements with defendants who allegedly claimed a bogus affiliation with government assistance programs.Under the settlements, which are part of the agency’s ongoing effort to stop scams that prey on consumers in financial distress, the defendants are banned from marketing or helping others to market any mortgage assistance relief product or service; prohibited from misrepresenting the available terms or rates for financial products and the potential to improve a consumer’s credit history or ability to obtain credit; prohibited from representing the benefits of financial products without competent and reliable evidence to substantiate their claims; and prohibited from making misrepresentations about any good or service, including claims of an affiliation with any government entity or program.  They also are required to protect and properly dispose of customer personal information.

Source: Media-Newswire.com

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