FTC Sending Refund Checks Totaling Almost $149,000 to Consumers Who Bought ReJuvenation “Anti-Aging” Pill

The Federal Trade Commission is mailing full refunds totaling nearly $149,000 to 1,310 consumers who bought ReJuvenation, a product deceptively marketed as a cure-all for a range of age-related ailments including cell damage, heart attack damage, brain damage, and deafness.

The FTC has additional money to return to defrauded consumers in this case, and is encouraging people who bought ReJuvenation, but do not receive a refund check in this mailing, to call the refund administrator at 1-877-844-0319 to request a refund.

According to the FTC’s February 2020 complaint, between May 2014 and February 2016 Maria Veloso advertised and sold ReJuvenation, a pill containing amino acids and herbal extracts, nationwide using direct mail, postcards, emails, and multiple websites. Quantum Wellness and its CEO, Fred Auzenne, took over the operation in early 2016, and continued to market the product as an anti-aging cure-all.

The two court orders resolving the FTC’s allegations bar the defendants from making false and unsubstantiated health claims and require them to pay a total of $660,000 to the Commission, which it is using to provide refunds to defrauded consumers.

Rust Consulting, Inc., the refund administrator in this case, will begin mailing checks today. Consumers who receive a refund check should cash or deposit it within 90 days, as indicated on the check. The average check amount is $113.

Consumers who have questions about this refund program or did not receive a check, but think they should have, should contact the redress administrator at 1-877-844-0319. The FTC never requires consumers to pay money or provide information to cash refund checks.

The FTC’s new interactive dashboards for refund data provide a state-by-state breakdown of these refunds, as well as refund programs from other FTC cases. In 2019, FTC actions led to more than $232 million in refunds to consumers across the country.

Payment Processor for MOBE Business Coaching Scheme Settles FTC Charges

A payment processor that allegedly ignored clear warning signs its client was operating an unlawful business coaching and investment scheme will be barred from processing payments in the business coaching field under a settlement with the Federal Trade Commission.

According to the FTC’s complaint against California-based Qualpay, the company for years processed payments for MOBE, a scheme the FTC alleged charged consumers hundreds of millions of dollars for worthless business coaching products, and that Qualpay ignored numerous signs that MOBE was a fraudulent business.

“Ignoring clear signs that your biggest customer is a bogus online business opportunity is no way to operate a payment processing business,” said Andrew Smith, Director of the FTC’s Bureau of Consumer Protection. “And, it’s a sure-fire way to get the attention of the FTC.”

The red flags listed in the complaint include questions about whether MOBE was a domestic or international company, the nature of MOBE’s business model, MOBE’s history of excessive chargebacks, and claims MOBE made in its marketing materials about helping consumers make “hundreds of thousands of dollars per year.” 

The complaint also alleges that Qualpay failed to follow its own internal policies when it came to managing MOBE’s accounts. Specifically, the company failed to review MOBE’s business practices in detail, which would have revealed numerous elements that should have eliminated MOBE as a client under Qualpay’s policies.

Even after Qualpay took on MOBE as a client, MOBE’s processing data immediately raised red flags related to the quantity of charges it processed and the number of refunds and chargebacks associated with those charges. When MOBE experienced excessive chargeback rates, instead of adequately investigating the causes of MOBE’s chargebacks, Qualpay responded by requiring MOBE to work closely with chargeback prevention companies.  Even though MOBE was generating excessive chargebacks, Qualpay failed to monitor the products MOBE was selling and the claims it was making to sell those products. A Qualpay employee reported, ‘We cannot monitor their business and have no idea what is going on.”   

Under the terms of its settlement with the FTC, Qualpay will be prohibited from processing payments for business coaching companies or other merchants designated as high-risk for a number of reasons. The settlement also prohibits Qualpay from making, or assisting merchants in making, deceptive statements to consumers or working to avoid fraud or risk monitoring programs. Qualpay will also be required to engage in careful screening and monitoring of card-not-present merchants. 

The settlement imposes a monetary judgment of $46,779,358.91, which is suspended due to Qualpay’s inability to pay. Qualpay is also required to surrender any claims to MOBE assets being held by the receiver in the MOBE case.

The Commission vote authorizing the staff to file the complaint and stipulated final order was 4-0-1, with Commissioner Rebecca Kelly Slaughter voting as not participating. The FTC filed the complaint and final order in the U.S. District Court for the Middle District of Florida.

NOTE: The Commission files a complaint when it has “reason to believe” that the named defendants are violating or are about to violate the law and it appears to the Commission that a proceeding is in the public interest. Stipulated final injunctions/orders have the force of law when approved and signed by the District Court judge.

OCC Issues Rule to Clarify Permissible Interest on Transferred Loans

News Release 2020-71 | May 29, 2020

WASHINGTON, D.C.—The Office of the Comptroller of the Currency (OCC) today finalized a rule to clarify that when a national bank or savings association sells, assigns, or otherwise transfers a loan, interest permissible before the transfer continues to be permissible after the transfer.

Loan transfers help support the orderly function of markets and credit by providing liquidity and alternative funding sources and allowing banks to manage concentrations, improve financial performance ratios, and more efficiently meet customer needs. Recent developments, including a decision from the U.S. Court of Appeals for the Second Circuit (Madden v. Midland Funding, LLC), have created legal uncertainty regarding the effect of a transfer on a loan’s permissible interest rate. This final rule addresses this legal uncertainty by clarifying and reaffirming the long-standing understanding that a bank may transfer a loan without affecting the permissible interest term.

The rule applies to all national banks and state and federal savings associations and will take effect 60 days after publication in the Federal Register.

Related Link

Media Contact

Bryan Hubbard
(202) 649-6870

Acting Comptroller of the Currency Statement Regarding the ‘Madden’ Rule

News Release 2020-72 | May 29, 2020

WASHINGTON, D.C.—Acting Comptroller of the Currency Brian P. Brooks today released the following statement regarding the Office of the Comptroller of the Currency’s (OCC) final rule to clarify that when a national bank or savings association sells, assigns, or otherwise transfers a loan, interest permissible before the transfer continues to be permissible after the transfer.

One of President Lincoln’s goals in creating a system of national banks 157 years ago was to enable interstate commerce by ensuring the efficient and consistent exchange of value. The decision the U.S. Court of Appeals for the Second Circuit in Madden v. Midland Funding, LLC., undermined that legacy by creating legal uncertainty regarding the centuries old doctrine of valid when made.

Today, as one of my first acts as Acting Comptroller of the Currency, I signed a final rule to protect Lincoln’s vision and to clarify that a bank may transfer a loan without affecting the legally permissible interest term. The rule supports the orderly function of markets and promotes the availability of credit by answering the legal uncertainty created by the “Madden” decision. Such certainty allows secondary markets to work efficiently and to serve their essential role in the business of banking and helping banks access liquidity and alternative funding, improve financial performance ratios, and meet customer needs.

Related Link

  • OCC NR 2020-71, “OCC Issues Rule to Clarify Permissible Interest on Transferred Loans”

Media Contact

Bryan Hubbard
(202) 649-6870

OCC Hosts Minority Depository Institutions Advisory Committee Meeting June 17 Via Remote Means

News Release 2020-70 | May 29, 2020

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Minority Depository Institutions Advisory Committee (MDIAC) on Wednesday, June 17, 2020, via remote means. The meeting is open to the public and will begin at 10 a.m., Eastern Daylight Time (EDT).

The MDIAC advises the OCC on steps the OCC may take to ensure the continued health and viability of minority depository institutions and other issues of concern to these institutions.

Members of the public may submit written statements to the MDIAC by sending an email to [email protected]. The OCC must receive written statements no later than 5:00 p.m. EDT Wednesday, June 10, 2020.

Members of the public who plan to attend the meeting via remote means or require assistance should contact the OCC by 5:00 p.m. EDT on Wednesday, June 10, 2020, to inform the OCC of their desire to attend the meeting and to obtain information about participating in the meeting via remote means. Members of the public can contact the OCC by emailing [email protected] or by calling (212) 790-4001. Attendees should provide their full name, email address, and organization, if any. Members of the public who are deaf or hearing impaired should call (202) 649-5597 (TTY) no later than 5:00 p.m. EDT on Wednesday, June 10, 2020, to make necessary arrangements.

Media Contact

Stephanie Collins
(202) 649-6870

Related Link

Brian P. Brooks Statement on Becoming Acting Comptroller

WASHINGTON — Brian P. Brooks today released the following statement on becoming Acting Comptroller of the Currency.

I am deeply honored to serve my country as Acting Comptroller of the Currency and lead this important and prestigious agency during this challenging time.

Over the past several months, the federal banking system has been integral to the nation’s response to COVID-19. It has been a central means to deliver relief to businesses and consumers and has continued to function admirably under significant stress. Banks and savings associations entered this crisis well positioned to play this important role. They remain a source of strength for the economy and an engine of opportunity.

The nation can rely on the federal banking system due in large part to the 3,600 men and women of the Office of the Comptroller of the Currency who have maintained a flexible regulatory framework in which banks can evolve to meet the needs of their communities; rigorously examined banks to ensure their safe, sound, and fair operation; and when necessary exercised our authority to enforce corrective action.

An agency with a 157-year history understands COVID-19’s seemingly long shadow is temporary. While managing through its effects will take significant focus and effort, we must not lose sight that we aim toward a longer, brighter purpose. We should approach our work not just with an eye to the next year, but to ensure the federal banking system adapts to the changing needs of consumers, markets, and the nation for the next 50 or 100 years.

The agency can take both the long view and meet the challenges facing banks today by focusing on four priorities: 1) build upon responsible innovation to help the banking system keep up with changes in the way American consumers and businesses manage their finances; 2) enhance the strength of the federal banking system by enhancing the scope and relevance of the national charter; 3) ensure banks serve their entire community through fair access to credit, capital, and financial services; and 4) provide OCC employees engaging, rewarding, and challenging career opportunities.

Build upon responsible innovation to help the banking system keep up with changes in the way American consumers and businesses manage their finances 

Innovation is a personal passion of mine, and the OCC can build on its foundation of innovation to provide banks and thrifts the regulatory certainty, the flexible framework, and oversight that allows them to evolve and capitalize on technology and innovation to deliver better products and services, to operate more efficiently, and to reduce risk in the system. Some of that work includes defending our authority to issue bank charters that support companies’ ability to engage in the business of banking on a national scale, including taking deposits, lending money, or paying checks. We should support banks’ use of new technology, products, and models that safely and fairly accelerate the velocity of money, create greater financial inclusion, and empower consumers and businesses with more control over their financial affairs.

Enhance the strength of the federal banking system by enhancing the scope and relevance of the national charter

COVID-19 reminded us that challenges facing a nation often rely on a national strategy, response, and capability for our collective good. Lincoln understood this when he created a system of national banks in 1863 to unify our republic, provide for interstate commerce, and solidify a national currency with the country’s full faith and credit behind it. Hamilton understood this, too, although Lin-Manuel Miranda gave it a better melody and educated a generation about the centrality of national banks to the collective prosperity of a nation. Maintaining that system requires vigilance and care, but we also have to remember that we are not curating a history museum—we’re overseeing a system that has to be responsive to the needs of Americans in this generation and the next. As the administrator of the federal banking system we have a responsibility to defend the authority and the powers Congress granted that enable the federal banking system to evolve, to harness the power of rapidly changing technologies and financial markets, to support a nationwide economy, and to serve local needs. We will work to clarify what true lender means, to underscore that the terms of a lawfully made contract remain valid for the duration of that contract even if it is sold by a bank to another investor, and to specify what the parameters of the “fintech charter” and other special purpose charters should be.

Ensure banks serve their entire community through fair access to credit, capital, and financial services

If the first two priorities provide the bedrock on which a federal banking system can thrive, the third priority focuses on why they exist at all—to serve their entire community. Last week, the OCC acted to strengthen Community Reinvestment Act rules which will encourage banks to lend and invest more and to make assessing how well banks serve their entire community more disciplined and consistent.

But there is more to it than that. Section 324 of the Dodd-Frank Act clarifies that the OCC mission includes ensuring “fair access to financial services, and fair treatment of customers by, the institutions and other persons subject to its jurisdiction.” Fair access has come under attack. Whether under the disreputable practice of “Choke Point” or under the guise of reputation risk, we should not tolerate lawful entities being denied access to our federal banking system based on their popularity among a powerful few. That is a dangerous and untenable practice that we will work to correct.

Provide OCC employees engaging, rewarding, and challenging career opportunities

Our success in ensuring banks operate in a safe, sound, and fair manner relies entirely on the men and women who serve the nation examining banks every day to assess their health, promote their compliance with laws and regulations, and provide sage counsel and insight that only the nation’s preeminent prudential supervisor can. It is service at its finest, and I am proud to work alongside such dedicated and professional people. The OCC Executive Committee and I will do everything in our power to provide a world-class place for OCC employees to work that delivers the resources and support necessary to successfully oversee the world’s most respected banking system.

These priorities will guide our effort over the months ahead and will ensure a safe, sound, and fair federal banking system; will help banks better serve the consumers, businesses, and communities that rely upon them, and will promote growth and economic opportunity, particularly for Main Street America.

I congratulate Joseph Otting, the 31st Comptroller of the Currency and my friend, on a successful tour and on the many accomplishments the agency achieved under his stewardship. I am also grateful to Secretary of the Treasury Steven Mnuchin for his leadership and his confidence in giving me this rare and august responsibility.

FTC Approves Final Order Settling Charges that Danaher Corporation’s Acquisition of GE Biopharma Was Anticompetitive

Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Danaher Corporation’s acquisition of GE Biopharma would likely reduce competition in highly concentrated markets that supply biopharmaceutical companies with key inputs.

Danaher is divesting to Sartorius AG all rights and assets to research, develop, manufacture, market, and sell these products. Based in Germany, Sartorius provides bioprocessing equipment and other products to the life sciences industry.

The products to be divested include: microcarrier beads, conventional low-pressure liquid chromatography columns, conventional low-pressure liquid chromatography skids, single-use low pressure liquid chromatography skids, chromatography resins, low-pressure liquid chromatography continuous chromatography systems, single-use tangential flow filtration systems, and label-free molecular characterization instruments.

The Commission vote to approve the final order was 3-1-1, with Commissioner Rohit Chopra voting no and Commissioner Rebecca Kelly Slaughter not participating.

The Federal Trade Commission works to promote competition, and protect and educate consumers. You can learn more about how competition benefits consumers or file an antitrust complaint. Like the FTC on Facebook, follow us on Twitter, read our blogs, and subscribe to press releases for the latest FTC news and resources.


VALCOURT, Quebec, May 28, 2020 (GLOBE NEWSWIRE) — BRP Inc. (TSX: DOO; NASDAQ: DOOO) held earlier today its annual meeting of shareholders in Valcourt, Quebec. The meeting was broadcasted via live webcast and conference call. The webcast is now available on BRP’s website at www.brp.com.  

During the meeting, the Company acknowledged the departure from the Board of Directors of Mr. J.R. André Bombardier and thanked him for his many years of contribution to the success of the Company. Mr. Bombardier has been helping to build BRP from the beginning and has sat on the Board of Directors of BRP from 2004 until now.

A tribute was also paid to Mr. Daniel J. O’Neill, who was also a director for BRP Inc. since 2004 and who passed away unexpectedly recently. Mr. O’Neill contributed to BRP in many significant ways over the years by putting to good use his extensive business experience and his pragmatic approach to problem-solving. For his support of BRP and for the excellent relationships he had with everyone at BRP, he will be greatly missed. BRP would like to express its sincere condolences to his family and friends. 

Otherwise, all of the nominees for directors listed in the Company’s management proxy circular dated April 28, 2020 were elected by a majority of the votes cast by shareholders present or represented by proxy at the meeting. The voting result for each nominee is as follows:


Nominee Votes
% Votes
Pierre Beaudoin 286,058,019 94.11% 17,900,702 5.89%
Joshua Bekenstein 286,584,465 94.28% 17,374,256 5.72%
José Boisjoli 290,226,679 95.48% 13,732,042 4.52%
Charles Bombardier 287,834,624 94.70% 16,124,097 5.30%
Michael Hanley 303,821,061 99.95% 137,660 0.05%
Louis Laporte 288,225,609 94.82% 15,733,112 5.18%
Estelle Métayer 303,844,786 99.96% 113,935 0.04%
Nicholas Nomicos 286,062,576 94.11% 17,896,145 5.89%
Edward Philip 298,568,844 98.23% 5,389,877 1.77%
Joseph Robbins 289,996,241 95.41% 13,962,480 4.59%
Barbara Samardzich 301,920,144 99.33% 2,038,577 0.67%

Other Changes to the Board of Directors

BRP welcomes Mr. Charles Bombardier as a new member of the Board of Directors. Mr. Bombardier was nominated for election as a director of BRP Inc. for the first time this year and was designated by the Beaudier Group.

Mr. J.R. André Bombardier did not stand for re-election as a director at the annual meeting of shareholders.

Changes to the Board Committees

Mr. Nicholas Nomicos was appointed as a member of the Audit Committee to replace Mr. Daniel J. O’Neill, and Mr. Nomicos ceased to be a member of the Human Resources & Compensation Committee and the Nominating Governance and Social Responsibility Committee. As a result of the foregoing changes, the composition of the Board committees is now as follows:

Directors Audit Committee Human Resources & Compensation Committee Investment and Risk Committee Nominating, Governance and Social Responsibility Committee
Pierre Beaudoin   Member   Member
Joshua Bekenstein   Member   Member
José Boisjoli (Chair)     Member  
Michael Hanley Chair      
Louis Laporte     Member  
Estelle Métayer Member      
Nicholas Nomicos Member   Member  
Edward Philip   Chair   Chair
Barbara Samardzich   Member Chair Member

To learn more about BRP’s Board members, click here.

About BRP

We are a global leader in the world of powersports vehicles, propulsion systems and boats built on over 75 years of ingenuity and intensive consumer focus. Our portfolio of industry-leading and distinctive products includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft, Can-Am on- and off-road vehicles, Alumacraft and Manitou boats, Evinrude and Rotax marine propulsion systems as well as Rotax engines for karts, motorcycles and recreational aircraft. We support our lines of product with a dedicated parts, accessories and clothing business to fully enhance your riding experience. With annual sales of CA$6.1 billion from over 120 countries, our global workforce is made up of approximately 12,600 driven, resourceful people.


Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Evinrude, Manitou, Alumacraft, Quintrex, Stacer, Savage and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.

Certain statements included in this release may be “forward-looking statements” within the meaning of Canadian securities laws. Forward-looking statements are typically identified by the use of terminology such as “may”, “will”, “would”, “could”, “expects”, “plans”, “intends”, “anticipates” or “believes” or the negative or other variations of these words or other comparable words or phrases. Forward-looking statements, by their nature, are based on assumptions, and are subject to important risks and uncertainties. Forward-looking statements cannot be relied upon due to, amongst other things, changing external events and general uncertainties of the business. Actual results may differ materially from results indicated in forward-looking statements due to a number of factors, including those identified in BRP’s annual information form and management’s discussion and analysis of financial condition and results of operations. The forward-looking statements contained in this release represent BRP’s expectations as of the date of this release (or as of the date they are otherwise stated to be made), and are subject to change after such date. However, BRP disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations

For media enquiries:

Elaine Arsenault
Senior Advisor, Media Relations
Tel.: 514.238.3615
[email protected] 

For investor relations:

Philippe Deschênes
Manager Treasury and Investor Relations
Tel.: https://mail.google.com/mail/u/0/images/cleardot.gif514.732.7047
https://mail.google.com/mail/u/0/images/cleardot.gif[email protected] 


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Treasury Provides Guidance on Carbon Capture Tax Credits for Businesses

WASHINGTON—The U.S. Department of the Treasury today provided guidance for businesses to take advantage of tax credits for storing qualified carbon oxide and tertiary oil recovery. The two new credits for carbon oxide captured offer up to $50 per metric ton of qualified carbon oxide for permanent sequestration and $35 for Enhanced Oil Recovery purposes. 

“This tax credit incentivizes American businesses to invest in carbon capture technology and promotes safe and environmentally conscious storage for carbon oxides that would otherwise be emitted to the atmosphere,” said Secretary Steven T. Mnuchin. “These proposed regulations provide detailed guidance to implement this important incentive.”

These new credits have no limitation on the number of metric tons of qualified carbon oxide captured. Prior to the change in law, carbon capture was limited to a total of 75,000,000 metric tons of qualified carbon oxide.  The new law also expanded carbon capture to include qualified carbon oxide, which is broader than qualified carbon dioxide. 

The proposed regulations address: procedures to determine adequate security measures for the geological storage of qualified carbon oxide, exceptions to the general rule for determining to whom the credit is attributable to, procedures for a taxpayer to make an election to allow third-party taxpayers to claim the credit, the definition of carbon capture equipment, standards for measuring utilization of qualified carbon oxide and rules for credit recapture.

Read more information click here.