Billing Services makes final payment in FTC settlement

Telecommunications clearing and financial settlement products provider Billing Services Group has made its 10th and final payment in its settlement with the Federal Trade Commission, it announced on Tuesday.

The AIM-traded firm said the amount was $0.52m, and the payment was made on Tuesday.

It reached the resolution with the FTC over litigation then pending before the United States District Court for the Western District of Texas, captioned FTC v. Hold Billing Services, Ltd., in May 2016m, resolving issues related to a business in which Billing Services said it had not been involved since 2012.

Under the terms of the agreement, among other commitments, BSG was to pay the FTC a total of $5.2m for consumer redress in 10 equal quarterly installments.

“BSG is pleased to have reached resolution with the FTC on this matter and looks forward to focusing its efforts on its current and future business endeavors,” the firm said at the time of the settlement.