Did you get a high school “diploma” from Stratford Career Institute or are you currently enrolled in its high school program? If so, you want to read this. Last February, the FTC sued Stratford Career Institute for misleading advertising of its high school program. Today, the FTC announcedd that Stratford has agreed to return money to people it deceived.
When you’re on the hunt for income, the last thing you want is to be misled about the earnings and benefits that a business opportunity offers. Today, the FTC announced that Uber agreed to a $20 million settlement of the FTC’s charges that the company made false or unsupported claims regarding its drivers’ likely income and the benefits of its Vehicle Solutions Program.
National Consumer Protection Week (NCPW) is around the corner! The annual event – March 5-11, 2017 – is a time to help people understand their consumer rights, make well-informed decisions about money, and spot scams.
Associate Director, Division of Marketing Practices, FTC
Last July, we told you about the FTC’s settlement with Herbalife, which made the multilevel marketing company not only restructure how it does business, but also pay $200 million to people who lost money trying to run an Herbalife business. Today, we mailed checks to about 350,000 of them. Are you thinking about a multilevel marketing (MLM) business opportunity? Every year, many people join MLM plans – and many also leave. Before joining any MLM company, do some research. Your time and money are too valuable not to. Here are a few things to consider:
Assistant Director, Division of Consumer and Business Education, FTC
You might have read about the FTC’s case against Vemma Nutrition Company, a business “opportunity” with pitches that promised big money from selling an energy drink. In 2015, the FTC filed suit, alleging that Vemma was running an illegal pyramid scheme and targeting college students.
Lots of people choose a college to boost their earning potential. So it might have been appealing if you came across an ad from DeVry claiming that 90 percent of graduates actively seeking employment landed jobs in their field within six months of graduation. And that DeVry bachelor’s degree graduates, on average, had 15 percent higher incomes one year after graduation than the graduates of all other colleges or universities.
If you’re in the military, your financial decisions can have long-term effects on your family life, security clearance, and mission readiness. In fact, the Department of Defense (DoD) has said that financial readiness is a critical part of the force’s mission readiness. It makes sense: when you know how to manage your money – and how to spot a rip-off – you’re more financially solid. And that helps keep you mission-ready.
Crowdfunding is the use of online platforms to fund a project or cause by raising money from a large number of people. As part of its FinTech series, the FTC will take a closer look at crowdfunding during a half-day forum on October 26.
If you’re just getting by, and someone offers you the chance to earn more money through a business opportunity, you might be willing to listen, right?
Unfortunately, those offers often turn out to be just another scam. Today the FTC announced charges against three people and multiple companies behind a telemarketing scheme that targeted older people and veterans, and took millions of dollars from people with promises they would multiply their investment.