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FTC Secures $59 Million Settlement over Fintech Firms’ Allegedly Misleading PPP Loan Claims

The FTC has reached settlement agreements with fintech firms Biz2Credit, Inc. and Oto Analytics, Inc. (doing business as Womply) to resolve allegations that the companies misled small businesses during the COVID-19 pandemic in their promotion and handling of Paycheck Protection Program (PPP) loans, violating the FTC Act and the COVID-19 Consumer Protection Act. Biz2Credit issued…

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Don’t Count Your Blessings Just Yet

Arkansas AG Tim Griffin and the FTC settled with BINT Operations LLC and two of its officers (collectively, “BINT”) to resolve allegations that the company violated federal and state consumer protection laws by running a pyramid scheme called “Blessings in No Time” (BINT). Separately, the Texas Attorney General’s Office settled with BINT to resolve similar…

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AGs Ask Supreme Court to Lift Injunctions on Federal Government’s Student Debt Relief Plan

A coalition of 22 Democrat AGs filed an amicus brief in support of the federal government in two cases before the U.S. Supreme Court concerning the government’s plan to cancel certain student loan debt in order to address the economic effects of the COVID-19 pandemic. The two cases, Biden v. Nebraska and Department of Education v.…

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