Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.
FTC bans defendants from debt collection industry
The Federal Trade Commission has announced that two South Carolina companies that used robocalls and illegal threats to convince consumers to pay non-existent debts will be permanently banned from the debt collection industry as part of settlements resolving FTC charges they threatened consumers with legal action to collect on debts that did not exist.
Complaints filed by the FTC accused National Landmark Logistics, LLC and Absolute Financial Services, LLC of using illegal robocalls to leave messages with consumers that threatened outcomes from lawsuits to arrest. The messages didn’t identify the caller as a debt collector, and when consumers would return the calls, the defendants would present themselves as mediators or attorneys.
Under the terms of the National Landmark Logistics settlement, defendants Liberty Solutions & Associates, LLC; LSA Processing Systems, LLC; James Dennison; and Eric Dennison will be permanently banned from playing any role in debt collection. They will also be prohibited from making certain misrepresentations to consumers, including whether a consumer owes them a payment, whether they are attorneys or associated with a law firm, or the terms of any refund program. A monetary judgment of $16.4 million, was partially suspended for inability to pay.
Under the terms of their settlements, Lashone Elam (also known as Lashone Caldwell); Absolute Financial Services, LLC; Absolute Financial Services Recovery, LLC; AFSR Global Logistics, LLC; and Talesia Neely will be permanently banned from playing any role in debt collection. They will also be prohibited from making certain misrepresentations to consumers, including whether a consumer owes them a payment, whether they are attorneys or associated with a law firm, or the terms of any refund program. The settlement with the corporate defendants and Elam contains a monetary judgment of $11.2 million, which is partially suspended due to an inability to pay. The corporate defendants will be required to turn over the contents of a number of bank accounts to the FTC, while Elam will be required to turn over $10,000.