We’ve always hated the concept of cy pres class action settlements. A cy pres distribution is an admission that, even without opposition, the
A cyber-alert issued earlier this month by the non-profit Center for Internet Security warns of a dangerous wave of malicious e-mails that are
The United States Court of Appeals for the First Circuit recently found in Zimmerman v. Puccio that a tax-exempt, nonprofit credit counseling agency operated as a “credit repair organization” within the meaning of the Credit Repair Organizations Act (“CROA”), 15 U.S.C. 1679-1679j, and that certain principals of the organization were personally liable under CROA.
On Monday, October 20, 2008, the Federal Trade Commission (the "FTC"), in cooperation with 25 state agencies in 23 states, announced "a crackdown on operations that deceptively claim they can remove negative information from consumers' credit reports - even if that information is accurate and timely."
In order to thoroughly understand their legal requirements and pitfalls, credit counseling agencies, debt management plan providers, and debt settlement companies must first have a basic understanding of the federal and state laws that apply to the activities of their companies.
On Aug. 27, 2007, the Illinois legislature passed Public Act No. 95-0479, which amends the Illinois class action statute effective July 1, 2008.