Six federal agencies issued a set of frequently asked questions (FAQs) today to help financial institutions, creditors, users of consumer reports, and issuers of credit cards and debit cards comply with federal regulations on identity theft and discrepancies in changes of address. The “Red Flags and Address Discrepancy Rules,” which implement sections of the Fair […]
Monthly Archives: June 2009
FTC Releases Report on Follow-on Biologic Drug Competition
The Federal Trade Commission today released a report entitled “Follow-on Biologic Drug Competition”which examines whether the price of biologic drugs – products manufactured using living tissues and microorganisms – could be reduced by competition from so-called “follow-on biologics” (FOBs). FOBs are like generic drugs, but with significant differences. Biologics are increasingly used to treat arthritis, […]
FTC Charges Foreclosure Prevention and Loan Modification Marketers with Contempt
The Federal Trade Commission has filed a civil contempt action charging a deceptive mortgage foreclosure rescue and loan modification operation with violating a 2001 court order. Many homeowners paid the defendants up to $5,500 in advance and ultimately lost their homes to foreclosure. The FTC has asked the court to halt the unlawful practices, freeze […]
Constellation Brands Settles FTC Charges That Ads for ‘Wide Eye’ Caffeinated Alcohol Beverage Were Deceptive
A major U.S. alcohol supplier has agreed to settle Federal Trade Commission charges that its advertising for the caffeinated alcohol drink Wide Eye was deceptive, unsubstantiated, and in violation of federal law. The proposed settlement bars Constellation Brands, Inc. – which claimed in its ads that consumers who drink Wide Eye will remain alert when […]
Statement of the FTC’s Bureau of Competition Regarding the Announcement that CSL Will Not Proceed with its Proposed Acquisition of Talecris Biotherapeutics
Following the Federal Trade Commission’s filing of a lawsuit to block the transaction, CSL Limited announced on June 8, 2009, that it will not proceed with its proposed $3.1 billion acquisition of Talecris Biotherapeutics. The FTC’s complaint charged that the deal would be illegal and would substantially reduce competition in the U.S. markets for four […]
FTC Announces Actions Against Kmart, Tender and Dyna-E Alleging Deceptive ‘Biodegradable’ Claims
The FTC has charged Kmart Corp., Tender Corp., and Dyna-E International with making false and unsubstantiated claims that their paper products were “biodegradable.” Kmart and Tender have agreed to settle the cases against them; the case against Dyna-E will be litigated. The FTC announced the cases today in testimony before the U.S. House Subcommittee on […]
Chairman, Commissioners Issue Statement on Endocare, Inc.s Announcement That it has Terminated its Merger Agreement with Galil Medical Ltd.
Federal Trade Commission Chairman Jon Leibowitz, Commissioner Pamela Jones Harbour, and Commissioner William E. Kovacic have issued a joint statement in response to the announcement by Endocare, Inc., that it has terminated its merger agreement with Galil Medical Ltd. during the agency’s ongoing investigation. The statement can be found on the agency’s Web site and […]
Commission Grants, in Part, Petition of Hexion LLC and Huntsman Corporation to Reopen and Set Aside Orders
Following a public comment period, the Commission has granted, in part, a petition by Hexion LLC and Huntsman Corporation requesting that two FTC Orders related to their proposed merger be reopened and set aside. The agency has determined that the firms have satisfactorily shown that changed conditions require that the matter be reopened. In particular, […]
FTC Returns an Additional $8 Million to Borrowers from First Alliance Mortgage Company Settlement
The Federal Trade Commission has mailed more than $8 million in redress checks to more than 15,000 people who obtained home mortgage loans through subprime lender First Alliance Mortgage Company (FAMCO). In 2002, the FTC had charged FAMCO with violating federal law in making home equity loans. The FTC alleged that the company misled consumers […]
FTC Officials Promote Recommended Practices to Improve Merger Analysis and Address Unilateral Conduct Issues at International Competition Network Conference
Federal Trade Commission officials worked with officials from more than 80 antitrust agencies worldwide at the eighth annual International Competition Network (ICN) conference in Zurich, Switzerland, to adopt new Recommended Practices for substantive merger analysis. ICN participants also discussed two new reports on the analysis of tying and bundled discounting, and loyalty discounts and rebates […]