TASC to Address Proposed FTC, Illinois Laws at Financial Services Collections & Credit Risk Conference

(MADISON, Wis.)—The Association of Settlement Companies today announced that Legislative Director Wesley Young will respond to both the Federal Trade Commission’s and Illinois treasurer’s recent proposals to regulate the debt settlement industry at the Source Media Financial Services Collections & Credit Risk Conference, held Oct. 18-20 at Caesars Palace in Las Vegas.

The FTC proposed recently banning debt relief companies from charging fees before a settlement is finally funded and documented as such by the creditor. This week, Illinois State Treasurer Alexi Giannoulias made a similar proposal by calling for legislation that would limit the fees debt settlement companies may charge.