Financial Services
Freedom Financial NetworkHeadquarters
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- Government Actions:Government Action: BBB reports on known government actions involving business’ marketplace conduct:New York Attorney General v Freedom Financial Network LLC
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
On June 23, 2020, Freedom Financial Network, LLC entered into a Consent Order and Judgement with the New York Attorney General. The order settles allegations that the business violated a 2011 Settlement filed with the Office of the Attorney General, by continuing to advertise savings on its website without making the required disclosures. Under terms of the order, the business shall not represent that New York consumers have achieved or can achieve specific savings or percentage debt reductions by enrolling in Freedom Debt Relief's debt relief service program unless the business clearly and conspicuously discloses that such results are limited to a certain percentage of consumers and provide the approximate proportion of the enrolled consumers who fall within that category. The business may not represent a range of savings or percentage debt reduction unless the midpoint of the represented range reflects the experience of the majority of consumers who have enrolled in their program, and the percentage of those consumers who achieved the top of the range of specific savings or percentage debt reductions claimed is clearly and conspicuously disclosed. The business shall pay $3.6 million for restitution and for the costs of administration. The business did not pay any penalties under the order. The Assurance was for settlement purposes only and should not be considered as an admission of guilt or finding of violation of the law.
This action is final.
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