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Amy Ralph Mudge Comments on Penalties Levied by FTC Against Personal Finance Website

News / February 18, 2020

Partner Amy Ralph Mudge is quoted in an article published Feb. 14, 2020, by FTCWatch. The article, “Push for Tough Penalties by Chopra, Slaughter Pays Off in LendEDU Case,” reports on how the Federal Trade Commission (FTC) secured monetary relief from personal finance website LendEDU, which engaged in a pay-to-play scheme. Democratic FTC Commissioners Rohit Chopra and Rebecca Slaughter pushed for the consent agreement that required LendEDU to pay $350,000.

“I was surprised there was money involved for consumer redress in a case about paid placement and fake reviews,” Mudge told the publication. “That is the first time we have seen that. Certainly the conduct as alleged violates Section 5 (of the FTC Act) but connecting that conduct to any consumer harm seems almost impossible.”

“But the Democrats (Chopra and Slaughter) have been clear they want to see monetary relief in all cases and want to see officers named in cases with individual liability,” Mudge added. “They have definitely moved the needle on those two points.”

Read the article (registration required).

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