A Florida debt settlement firm has agreed to change its name from Clearview Credit back to Debt Reduction America Inc. after Clearview Federal Credit Union filed a trademark suit.
Matt Pritchard, the attorney representing the $625 million Clearview FCU, told Credit Union Times that both parties were pleased with the outcome. Pritchard did not provide details of the agreement.
"We were able to amicably resolve the trademark suit with Clearview Credit," Pritchard said. "[Clearview FCU] is entirely satisfied with the resolution of the matter."
The CU first learned of the Tampa, Fla.-based debt settlement company after members came into the branches with mailers from Clearview Credit. Members had asked if the CU endorsed the firm or if it had expanded into debt settlement services, according to the CU's May 20 complaint.
On or about Jan. 5, 2009, Debt Reduction America changed its name with the Florida Secretary of State to Clearview Credit, the CU's complaint noted. A check of Clearview Credit's website today revealed that the company indeed had changed its name. However, the site's URL is www.clearfl.com. A comment from the debt settlement firm was not immediately available.
Based in Moon Township, Pa., Clearview FCU serves more than 79,000 members in all 50 states including thousands in Florida, according to the CU.