Background on the case.
The Consumer Financial Protection Bureau, among other agencies, filed a complaint against Key Credit Repair for, among other things, violations of the credit repair provisions of the Telemarketing Sales Rule.
Key Credit Repair fought hard.
They raised serious questions about the wisdom and legal propriety of the TSR. Namely, its provision that requires credit repair companies to wait 6-month to get paid after they’ve performed services as agreed.
The TSR prevailed.
The outcome was inevitable.
While we agree that the fight to curtail this regulation should have taken place, we ultimately knew that the TSR would prevail.
How did we know?
Well, the TSR has survived the exact arguments which were raised many times in the past, including many times recently.
We’ve reviewed all of these cases and the seriousness of the TSR.
Nevertheless, you can read the Court’s denial of Key Credit Repair’s motion to dismiss below.
What does this mean for you?
The TSR is here to stay.
You should systematically get into compliance as quickly and reasonably as possible.
If you are a credit repair company serious about compliance, you need to consider an online-only, escrow model such as the one provided by us, credzu.comKey-Credit-Repair-Motion-to-Dismiss-Denied