...but not to the FTC by Christopher Menkin FTC Senior Attorney Randall H. Brook, who was not available on Monday for a comment to see if the federal government was singling out “Chicagoland,” must be laughing too hard to respond to the the latest IFC communiqué. IFC Credit is located in Morton Grove, Illinois. If that's “Chicagoland,” don't tell the Morton Grove Chamber of Commerce. Here is a map showing the geographical location of Morton Grove to Chicago, Illinois: Seriously, there were a number of legal faux pas's in this latest “spin.” It should be noted in our November 16, 2005 interview, by adding “unnamed” leasing companies, Brook did confirm other leasing companies were under active investigation, not just IFC Credit. The FTC was obviously not singling out just one company. Here is Mr. Brook's interview with dates, facts, and legal filings: http://www.leasingnews.org/Conscious-Top%20Stories/Novergence_139.htm The “Letter to the Editor” states they have complied with material requested, but then also states at the end, “That information and other materials requested by the FTC are expected to be delivered to the FTC very soon which should resolve the requests of the FTC's Civil Investigative Demand.” If they compiled, why are they sending “That information and other materials requested by the FTC?” Is this another goof? It should be brought to Leasing News reader's attention that John J. Estok IFC CREDIT CORPORATION is one of the members of the ELA Small Ticket BC Steering Committee. It should be also noted out of the 14 member committee, 12 have been listed by various states attorney general offices as having NorVergence leases; several of the group have already accepted or are considering accepting states attorneys general settlements. ELA being a trade organization may then be considered to be representing its members and thus the “spirit” on the story is to support their member(s.) In the letter from IFC Credit, which most likely came or was reviewed by the IFC attorney, to begin with “... communicated with the FTC to make sure the Commission uses great care in dealing with the basic issue of defining the line between purely consumer-oriented transactions and commercial transactions with small businesses” was way off the reality of the situation. Leasing News has pointed out in many of its stories on this subject that the FTC does not “legally” differentiate between a commercial or consumer issue, as many state laws may in specific states. Perhaps IFC Credit should consider better legal representation and maybe they wouldn't be in the mess they are today. In closing, Leasing News appreciates Pat Myers Executive Assistant to Rudy Trebels sending us a copy of the letter to ELTnews. We would be glad to receive any comment and hope he seeks more appropriate legal advice than he is apparently receiving as others say he is much smarter than the above correspondence indicates.
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