On February 3, 2020, the FTC announced a $350,000 settlement with Shop Tutors Inc., d/b/a LendEDU, a website that ranks and rates consumer financial products such as student and personal loans. The FTC’s complaint alleged that LendEDU and its principals violated the FTC Act by misleading consumers into believing that their website offered consumers “objective,” “accurate” and “unbiased” information, despite the fact that the company was alleged to be selling rankings and ratings to the highest bidder.
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