Credit Repair Firm Settles: In what may...

Credit Repair Firm Settles: In what may be one of the largest monetary settlements ever obtained from a so-called credit repair firm, Action Credit Systems Inc. and two individuals agreed to repay customers $1.2 million to settle a Federal Trade Commission complaint. The FTC estimated that the amount was the total consumer injury arising from the activities of Action Credit, a California concern that misled consumers by falsely claiming it could improve customers’ credit records and help them obtain credit cards.