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Agency Trump and Musk want to 'delete' set to deliver $1.8 billion to scammed consumers


Published on 2024-12-08 07:40:39 - MSN
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  • In the coming weeks, as President-elect Donald Trump's second term approaches and his pledge to dismantle key agencies potentially comes closer to fruition, 4.3 million consumers are set to receive checks from one of the agencies the incoming administrationwants to "delete.

The Federal Trade Commission (FTC) is set to distribute approximately $1.8 billion to consumers who were defrauded by a student loan debt relief scheme operated by the now-defunct company, Mission Hills Federal and its owners, Brandon Frere and Gregory McCarrell. This action follows a lawsuit filed by the FTC in 2019, which accused the company of deceiving borrowers with false promises of loan forgiveness and charging illegal upfront fees. The settlement, which was finalized in 2023, not only requires the company to cease its operations but also to pay back the money to affected consumers. Elon Musk and Donald Trump, who have both criticized the FTC in the past, are mentioned in the context of their opposition to regulatory agencies like the FTC, which they believe overstep their bounds. However, this case demonstrates the FTC's role in protecting consumers from fraudulent practices.

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