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FTC issues $7.5M fine for Do Not Call violations

By Jennifer Kerr

Associated Press

LAST UPDATED: 05:04 a.m. HST, Jun 27, 2013

WASHINGTON » A mortgage broker accused of trying to dupe veterans and active military has been fined $7.5 million by the Federal Trade Commission.

The commission says Mortgage Investors Corporation, a leading refinancer of veterans' home loans, agreed to the civil penalty after being accused of placing more than 5 million telemarketing calls to numbers on the national Do Not Call registry.

The FTC says telemarketers for the Florida-based company also tried to mislead service members to believe that low interest, fixed-rate mortgages were available at no cost. They allegedly quoted rates that they implied would last the duration of the loan when the company really only offered adjustable rate mortgages.

The FTC announced the penalty on the 10-year anniversary of the registry, which bars telemarketers from calling numbers on the list.

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MolokaiChuck wrote:
on June 27,2013 | 05:29AM
serious wrote:
Ditto!!! But, why not jail time? That usually gets one's attention.
on June 27,2013 | 05:34AM
RichardCory wrote:
Because it's not a crime, obviously.
on June 27,2013 | 05:36AM
livinginhawaii wrote:
How about fining Charles Djou?? His failure to cease robocalls was completely unacceptable.
on June 27,2013 | 07:15AM
Dolphin743 wrote:
Political and charity calls are exempt from the Do Not Call rules.
on June 27,2013 | 09:26AM
DABLACK wrote:
Then the people going get "lost" due to not being told what to do. Ha !
on June 27,2013 | 07:32AM
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