Consumer Portfolio announces settlement with FTC Consumer Portfolio Services announced a final settlement with the Federal Trade Commission resulting from the FTC's inquiry into the company's business practices. "We are pleased to have resolved the matter with the FTC," said Charles E. Bradley, Jr., President and CEO. "We cooperated fully with the FTC during their inquiry and made several system and procedural changes related to their comments. Furthermore, we are pleased that the final settlement is consistent with our expectations. Accordingly, the amounts we've agreed to pay for customer refunds and the civil penalty are covered entirely by the legal provision expenses we've previously recognized."