FTC Report Examines How Authorized Generics Affect the Pharmaceutical Market

The Federal Trade Commission issued a final report on authorized generic drugs that concludes when pharmaceutical companies introduce an authorized generic version of their brand-name drug, it can reduce both retail and wholesale drug prices. The report also found that authorized generics have a substantial effect on the revenues of competing generic firms. Over the […]

FTC Returns Almost $3.2 Million to Auto Warranty Robocall Victims

The Federal Trade Commission is mailing approximately 4,450 refund checks to consumers who were tricked by illegal robocalls into buying bogus auto “warranties that were actually extended service contracts. The FTC alleged that “warranty” seller Transcontinental Warranty hired telemarketer Voice Touch Inc., to blast U.S. consumers with prerecorded calls that made them think the callers […]

FTC Returns Almost $2 Million to Payday Loan Applicants Who Were Tricked into Buying Prepaid Debit Cards

The Federal Trade Commission is mailing more than 110,000 refund checks to consumers defrauded by an online operation that tricked payday loan applicants into paying for an unrelated debit card. The FTC alleged that payday loan marketers Matthew Patterson, Mark Benning, Jason Strober, and Swish Marketing, Inc., worked with debit card marketers Jerry Klein, Joshua […]

As Hurricane Irene Approaches, FTC Offers Financial Preparedness Tips, Advises Consumers to Watch Out for Scams

With Hurricane Irene approaching the East Coast, the Federal Trade Commission reminds consumers that when it comes to preparing for a weather emergency, financial readiness is as important as having a flashlight with fully charged batteries. Also, the FTC warns that it’s important to be mindful of possible scams in the aftermath of a disaster. […]

FTC Updates Telemarketer Fees for the Do Not Call Registry

The Federal Trade Commission has announced updated fees starting on October 1, 2011, for telemarketers accessing phone numbers on the National Do Not Call Registry. All telemarketers making calls to consumers in the United States are required to download the numbers on the Do Not Call list to ensure they do not call consumers who […]

FTC Shuts Down Operators of Deceptive Government Grant Scheme

The Federal Trade Commission, along with four state attorneys general, has shut down a fraudulent operation that allegedly took advantage of financially distressed consumers by falsely promising them a “guaranteed” $25,000 grant from the federal government. Several defendants have agreed to court orders settling the FTC and state charges, which bar all of them from […]

FTC Cautions Consumers on the Pitfalls of Penny Auctions

Online penny auctions may offer deals, but they can also pose problems, as the Federal Trade Commission warns in a new consumer alert Online Penny Auctions: Nothing for Something? Penny auctions often charge a substantial fee just to register, and you have to pay each time you place a bid, whether you win or lose. […]

FTC Halts Mortgage Relief Schemes

The Federal Trade Commission put an end to three schemes that claimed they would help consumers with their mortgage and debt problems, as part of settlements with defendants who allegedly claimed a bogus affiliation with government assistance programs. Under the settlements, which are part of the agency’s ongoing effort to stop scams that prey on […]

FTC Approves Final Order Settling Charges against Marketer for Claiming that Nivea Skin Cream Can Help Consumers Slim Down

Following a public comment period, the Federal Trade Commission finalized the Order settling charges against Beiersdorf, Inc. for falsely claiming that regular use of its Nivea My Silhouette! skin cream can significantly reduce users’ body size. The company also agreed to pay $900,000 as part of the settlement. Under the final Order, Beiersdorf may not […]

FTC Permanently Halts Operation that Allegedly Made Bogus Claims about Eliminating Consumers’ Debt

As part of its continuing crackdown on scams that target consumers in financial distress, the Federal Trade Commission settled charges against a debt relief operation that allegedly lured consumers nationwide into paying thousands of dollars in up-front fees, but in most cases failed to actually reduce their credit card debts, and in many cases left […]