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At the request of the Â鶹´«Ã½ Trade Commission, a federal court has entered a judgment of more than $3.6 million against a payment processor and its subsidiary that allegedly debited consumers’ bank accounts illegally on behalf of deceptive telemarketers. According to a 2007 complaint filed by the FTC and seven states, Your Money Access, LLC and its subsidiary, YMA Company, LLC, processed unauthorized debits on behalf of deceptive telemarketers and Internet-based schemes that were violating the FTC’s Telemarketing Sales Rule and state consumer protection laws. The companies played a critical role in these schemes by providing access to the banking system and the means to extract money from consumers’ bank accounts. The FTC alleged that in many instances the merchants either failed to deliver the promised products or services or sent consumers relatively worthless items.

A default judgment entered in October 2008 barred Your Money Access and YMA Company from payment processing for any client whose business practices are deceptive, unfair, or abusive within the meaning of the FTC Act, the , and state consumer protection laws.

The states joining the FTC’s complaint were Illinois, Iowa, Nevada, North Carolina, North Dakota, Ohio, and Vermont.

The Â鶹´«Ã½ Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 1,800 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s website provides free information on a variety of consumer topics.