On November 2, the New York Attorney General announced a $ 1.6 million settlement with a debt settlement company and its principal, resolving allegations that the company violated New York's deceptive and unlawful practices law by engaging in fraudulent, deceptive, and illegal business practices in connection with loan modification and audit services. According to the AG, the company induced consumers to pay an upfront fee of $ 2,850, followed by recurring monthly payments, by misrepresenting the likelihood of obtaining a loan modification or other debt relief.
