Given the questionable legal basis supporting the FTC’s attempt to amend the TSR, and the interest the debt-settlement industry is receiving from Congress and various state legislatures, it appears that the FTC’s aggressive attack on the settlement industry is motivated by political pressure exerted by special interest groups opposing the industry, rather than a genuine concern for consumers suffering a crisis of debt.
From HID[ING] ELEPHANTS IN MOUSEHOLES”: * THE FTC’S UNWARRANTED ATTEMPT TO REGULATE THE DEBT-RELIEF-SERVICES INDUSTRY USING RULEMAKING AUTHORITY PURPORTEDLY GRANTED BY THE TELEMARKETING AND CONSUMER FRAUD AND ABUSE PREVENTION ACT by MICHAEL THURMAN & MICHAEL L. MALLOW
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Mr. Thurman and Mr. Mallow are partners in the Litigation Department of Loeb & Loeb, LLP, in Los Angeles, California. They regularly counsel and defend individuals and companies in investigations and actions brought by the Federal Trade Commission and state regulators. Mr. Thurman received his J.D. from the University of Oregon School of Law in 1985 and an A.B. degree from Stanford University in 1979. Mr. Mallow obtained his J.D. with Honors from George Washington University Law School in 1991 and a B.A. degree from State University of New York at Binghamton in 1988.
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