Have you ever gotten one (or a couple thousand) of those robocalls where “Rachel From Cardholder Services” tells you to press “1” to lower the interest rate on all your credit cards?
If you pressed “1” instead of hanging up the phone in disgust, you were connected to a telemarketer who would attempt to scam you out of a couple thousand dollars in up-front fees. If you pressed “2,” you were supposedly removed from the call list. Of course, Rachel would still call back a few weeks later because pressing “2” did absolutely nothing.
It turns out there were five companies running this scam, and the FTC has now officially brought charges against them. These companies have violated a whole slumgullion of federal regulations. In other words, Rachel From Cardholder Services won’t be calling anymore.
I never liked her anyway.
Anyway, there’s an article over at the Consumerist that goes into more detail.