12-20-2010 04:03 PM
O6, I didn't realize they did anything at all with complaints. If it gets to an Executive level then it's probably worth doing, and also if enough folks complain they might do something...
I actually got an opinion letter from them years ago about the phase-in of the 7 years from DOFD rule, it was very useful dealing with an Amex issue at the time.
As far as enforcement action, it's virtually impossible to get the FTC to intervene unless there are a large number of people complaining about a specific entity.
Even administratively, by just forwarding the complaint to the appropriate creditor / CRA, it would appear useless, but I have seen success when getting responses from executive resolutions in reply to complaints the FTC has forwarded.
On a somewhat related matter, the FTC is useful if you can get through to the right people on the phone and get consultations on specific matters.