Scam News: FTC Gets $3.6 Million Judgment Against Companies that Allegedly Debited Money from Consumers’ Bank Accounts Without Permission

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At the Federal Trade Commissions urging, a federal court entered a $3.6 million judgment against Your Money Access, LLC and its subsidiary, YMA Company, LLC for allegedly debiting consumers’ bank accounts on behalf of deceptive telemarketers and Internet-based schemes. The company is accused of allowing the deception and scams to happen to because they allowed the merchants the means to extract payment from consumers’ accounts but in many cases failed to deliver the products or services, or sent worthless items.

The judgment bars Your Money Access and YMA Company from providing payment processing for any company that uses deceptive, unfair, or abusive practices according to the FTC Act, the Telemarketing Sales Rule, and state consumer protection laws.

Read about the ruling and learn more about the FTC.

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