United Wealth Education Responds to FTC Announcement

Company Enters 23^rd Year of Business "Stronger than Ever"

FARMINGTON HILLS, Mich., April 16, 2026 /PRNewswire/ -- A March 17, 2026, press release regarding United Wealth Education (UWE) unfairly left unanswered questions about the company's business and its consumer finance product, the UWE Protection Plan. 

According to UWE's founder and CEO Parimal Naik, the FTC communication is simply part of the settlement that he and his company agreed upon to end a lawsuit during which UWE had conducted its business and continued to bring financial information and products to its customers.

"The FTC is doing its job. The press release and letter explain the final steps of the process upon which the FTC and UWE had agreed," Naik stated.

In the press release and letter, the FTC quoted language from their original complaint which inaccurately portrayed UWE's business practices. In particular, the notion of a "bogus credit repair scheme" was taken directly from their original complaint, but omits that UWE and YFL continued then, as now, to make credit repair services available to their customers.

"This is not a new finding or charge of some kind. In fact, following the FTC's complaint the court enabled UWE to continue in business." Since then, Naik said that he and his company have worked "tirelessly" to ensure that each of FTC's concerns were clearly and thoroughly addressed.

"We have worked closely with our legal counsel and the court appointed monitor over the last three years to respond to each of the FTC's concerns and ensure that all of our communications and marketing accurately reflect the essential products and services we have always offered," he explained.

"Some in business may find it uncomfortable, but for us this was a very positive experience. It allowed us to grow to where we are today."

"And remember," he added, "we also benefit from the work of the FTC. The last thing we want is to find ourselves in some kind of a 'wild west marketplace' where anything goes. That's not good for anyone, including us."

Sue Griffin, UWE's Senior Vice President of Agent Support, echoed Naik's comments. "We revisited every aspect of our business and marketing operation, including anything to do with credit restoration and the supplemental income opportunity for our agents, to ensure that the information is up to date and accurate," she explained. "Our agents are only allowed to use company-vetted and approved marketing resources. Anything outside of this is subject to discipline, including dismissal."

Like any consumer facing business, "rogue agents" long ago terminated provided the basis for much of what the FTC said. "It's unfortunate that some 'bad apples' put us in this position," Naik explained. "Most companies would not survive something like this, but we did because we always strived to do the right thing. We're stronger than ever."

About United Wealth Education
United Wealth Education is the private, for-profit partner company behind the UCES (United Credit Education Services) Protection Plan. Since 2004 it has provided resources for developing financial literacy and habits and the achievement of short- and long-term fiscal goals. In addition, UWE provides independent agents with the tools and skills they need to build their own business and market innovative financial literacy tools, products, and services.

Contact Information:
Contact Name: Sue Griffin
Phone: 248-848-6065 X2025
Email: [email protected] 

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SOURCE United Wealth Education