The Federal Trade Commission ("FTC") recently announced that it will hold a public workshop entitled "Consumer Protection and the Debt Settlement Industry." This workshop will be held on September 25, 2008 in Washington, DC and will focus on the growth of the for-profit debt settlement industry and how it has impacted consumers and related businesses. Issues to be covered include market trends that have moved the industry from a non-profit to a for-profit model, best practices in the industry, and regulatory and legislative actions.
The Advertising Law Practice Group has prepared a Client Advisory that provides an overview of the topics that will be addressed in the workshop, and discusses the increased focus on the for-profit debt relief industry. Companies that offer debt relief products are encouraged to participate in the FTC’s review of these issues, either as panelists or through submission of comments.