Mobile devices are changing how people go about their daily lives, and that includes how they pay for stuff. As announced in January, the FTC is hosting a workshop on April 26, 2012, to examine the use of mobile payments in the marketplace and their effects on consumers. The workshop — which will be held at the FTC’s Conference Center at 601 New Jersey Avenue, N.W., in Washington, D.C.
Imagine for a moment your ideal customer. They consider their choices carefully before buying. They keep their accounts current. When service is top-notch, they spread the word to friends and family. If there’s a glitch, they give you a chance to correct the problem before posting thumbs-down reviews. Now imagine you could “create” your own cadre of contented customers. Fantasy Land? It’s more real than you might imagine.
Last week saw FTC announcements involving allegations of foreclosure rescue fraud, deception aimed at people trying to resell their timeshares, complaints against payday lenders, and lawsuits against outfits claiming to help consumers behind on their car payments. Is there a theme here? You bet. But the message isn't just for companies engaged in practices targeting consumers struggling to stay afloat. There are words to the wise for businesses of any size and every stripe.
Tough federal and state law enforcement has turned up the heat on mortgage foreclosure rescue scams. So some operators are turning to auto loan modifications to make a fast buck on consumers in financial distress. In the first cases of their kind filed by the FTC, the agency is alleging that two unrelated California outfits charged hundreds of dollars in upfront fees, based on bogus claims they could reduce consumers’ monthly car notes and help them avoid The Repo Man.