US FTC: Telemarketing company that sold credit card protection services agrees to pay civil penalty.

0 Comments | M2 Presswire, May, 1999

M2 PRESSWIRE-26 May 1999-US FTC: Another telemarketing company that sold credit card protection services for Tracker Corp. of America agrees to pay civil penalty to settle FTC charges (C)1994-99 M2 COMMUNICATIONS LTD RDATE:250599 South Florida Business Ventures, based in Boynton Beach, and its owner Warren Izard, have agreed to pay a $11,000 civil penalty to settle Federal Trade Commission charges that they sold a credit card program to consumers for a fee of $189 that they claimed would protect consumers from losses up to $10,000 resulting from lost or stolen credit cards.

The Commission alleged that the defendants, during their sales pitch, also violated the FTC Act and the Telemarketing Sales Rule (TSR) by making false and misleading statements to induce...