The Federal Trade Commission announced on Mar. 17 that it is sending more than $10.9 million to consumers who were harmed by a credit repair operation known under several names, including Financial Education Services, United Wealth Education, United Credit Education Services, and Youth Financial Literacy Foundation.
The action follows a lawsuit filed by the FTC in 2022 against Financial Education Services (FES). The agency said the company targeted people with low credit scores by promising an easy fix for their credit and then recruiting them into a pyramid scheme to sell these services to others. This practice cost consumers millions of dollars.
In 2024, the FTC reached settlements with FES and its owners and operators. These agreements required the defendants to stop their fraudulent activities and provide funds for consumer redress. As a result, the FTC is now distributing checks to 443,048 affected customers. Recipients are advised to cash their checks within 90 days as indicated on each check.
Consumers with questions about their payments can contact the refund administrator at Analytics by calling 833-699-7995 or emailing FES@refundadministrator.com. Additional information about the refund process is available on the FTC website, which also reminds recipients that no payment or account information is ever required to receive a refund from the Commission.
According to the agency, its interactive dashboards offer state-by-state breakdowns of refunds in FTC cases. In total, actions taken by the FTC in 2024 have resulted in more than $339 million being returned to consumers nationwide.
The Federal Trade Commission continues its work promoting competition and protecting consumers through education and enforcement efforts.
