H. James Van Buskirk

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In toe Matter or H. JAMES VAN BUSKIRK ET AL. DOING BUSINESS AS ASSOCIATED LOAN COUNSELLORS CONSENT ORDER, ETC., IN REGARD TO THE ALLEGED VIOLATION OF THE FEDERAL TRADE COMMISSION Act Docket 7545. Complaint, July 15, 1959—Decision, Nov. 12, 1959 Consent order requiring two individuals in Chicago to cease misrepresenting the services they offered in helping businessmen to obtain loans, by such false claims as that they would obtain a loan within a short period of time and at, or at less than, a specified rate of interest; that they were agents of financing institutions and were authorized to approve loans on the latter’s behalf; that upon payment of a fee they would quickly get customers even larger loans than applied for; and that they would refund the fee if no loan was obtained.

Mr. John W. Brookfield, Jr. and Mr. John J. Mathias supporting the complaint.

Mr. Richard L. Ritman of Chicago, Ill., for respondents. Order 56 PTC.

Inir1aL Decision sy Epwarp Creel, Hearinc Examiner Pursuant to the provisions of the Federal Trade Commission Act, the Federal Trade Commission on July 15, 1959, issued and subsequently served its complaint in this proceeding against the abovenamed respondents.

On September 28, 1959, there was submitted to the undersigned hearing examiner an agreement between respondents and counsel supporting the complaint providing for the entry of a consent order. Under the foregoing agreement, the respondents admit the jurisdictional facts alleged in the complaint. The parties agree, among other things, that the cease and desist order there set forth may be entered without further notice and have the same force and effect as if entered after a full hearing and the document includes a waiver by the respondents of all rights to challenge or contest the validity of the order issuing in accordance therewith. The agreement further recites that it is for settlement purposes only and does not constitute an admission by the respondents that they have violated the law as alleged in the complaint.

The hearing examiner finds that the content of the agreement meets all of the requirements of section 3.25(b) of the Rules of the Commission.

The hearing examiner having considered the agreement and proposed order, and being of the opinion that they provide an appropriate basis for settlement and disposition of this proceeding, the agreement is hereby accepted, and it is ordered that said agreement shall not become a part of the official record unless and until it becomes a part of the decision of the Commission. The following jurisdictional findings are made and the following order issued. 1. Respondents H. James van Buskirk and Sonia Lee van Buskirk are individuals and copartners trading and doing business as Associated Loan Counsellors, with their principal office and place of business located at 64 East Lake Street, in the City of Chicago, State of Illinois.

2. The Federal Trade Commission has jurisdiction of the subject matter of this proceeding and of the respondents, and the proceeding is in the public interest.

ORDER Lt 78 ordered, That. respondents H. James van Buskirk and Sonia Lee van Buskirk, copartners trading and doing business as Associated Loan Counsellors, or under any other name or names, and respondents’ representatives, agents and employees, directly or through any corporate or other device, in connection with the adver- COOPCHIK-FORREST, INC., ET AL. 501 499 Sylabus tising of or offering for sale or sale of their services in obtaining loans or financial assistance for businessmen or others, in commerce, as “commerce” is defined in the Federal Trade Commission Act, do forthwith cease and desist from representing, directly or by implication, that:

1. Respondents will obtain a loan within a specified or short period of time; or in any period of time that is not in accordance with the fact;

2. A loan will be obtained at or at Jess than a specific rate of interest ;

8. Respondents can or will obtain larger loans than the loans sought by applicant;

4. Respondents are the agents of financing institutions, or are authorized by such institutions to approve loans; 5. If respondents accept. the contract, the applicant is assured of receiving the loan;

6. Respondents will refund all or part of the fee paid in the event that a Joan is not. obtained.

DECISION OF THE COMMISSION AND ORDER TO FILE REPORT OF COMPLIANCE Pursuant to Section 3.21 of the Commission’s Rules of Practice, the initial decision of the hearing examiner shall on the 12th day of November, 1959, become the decision of the Commission; and accordingly:

It ts ordered, That the respondents herein shall within sixty (60) days after service upon them of this order, file with the Commission a report in writing setting forth in detail the manner and form in which they have complied with the order to cease and desist.