FTC Bans Three 'Debt-Relief' Companies

Three debt-relief companies and their owner have been banned from the business under a settlement with the Federal Trade Commission for phony claims about their ability to help consumers eliminate credit card debts and halt harassing calls from debt collectors.

The defendants, Jonathan Greenberg, Hermosa Group LLC, Media Innovations LLC, and Financial Future Network LLC, have also been fined $500,000 to settle the charges.