FTC Signs Decree v. Lender For Deceptive Loan Practices
January 1, 2001
TILA/Regulation Z The Federal Trade Commission signed off on a consent agreement with a Dallas-based subprime lender, barring the latter from running misleading subprime loan advertisements and misrepresenting consumer savings on high-cost loans. The FTC accepted the proposed consent decree against FirstPlus Financial Group, Inc. last month, marking the agency’s first completed action against a consumer finance company for alleged abusive lending practices.