Did you know that your Social Security number can help an identity thief get a job, or the tax refund that should be yours? The Federal Trade Commission, the nation’s consumer protection agency, cautions that thieves can use a stolen Social Security number to apply for a job or file for a tax refund under […]
Monthly Archives: February 2012
FTC Report Raises Privacy Questions About Mobile Applications for Children
The Federal Trade Commission today issued a staff report showing the results of a survey of mobile apps for children. The survey shows that neither the app stores nor the app developers provide the information parents need to determine what data is being collected from their children, how it is being shared, or who will […]
FTC Action Leads to Ban on Alleged Mortgage Relief Scammers Who Harmed Thousands of Consumers
At the request of the Federal Trade Commission, a U.S. district court put the mortgage relief business permanently off limits to marketers who allegedly charged thousands of consumers up to $2,600 each, based on bogus promises to provide loan modifications that would make mortgages much more affordable. The case against U.S. Mortgage Funding, Inc. is […]
FTC Issues Annual Financial Acts Enforcement Report to Federal Reserve
The Federal Trade Commission has issued its annual report to the Federal Reserve Board on FTC enforcement and related activities regarding the Equal Credit Opportunity Act (ECOA), Electronic Fund Transfer Act (EFTA), Consumer Leasing Act (CLA), and Truth in Lending Act (TILA). This year’s report also discusses future FTC activities and the Dodd-Frank Act, including […]
Bank of America Subsidiary Reversing or Refunding $36 Million in Fees to Resolve FTC Allegations That it Overcharged Struggling Homeowners
A mortgage servicing subsidiary of Bank of America Corp. agreed to settle Federal Trade Commission charges that it illegally assessed more than $36 million worth of fees against struggling homeowners, in violation of an earlier settlement with the FTC. “It’s clear to us that the Bank of America subsidiary violated the 2010 court order, and […]
FTC Shuts Down Robocallers Who Claimed to Reduce Credit Card Interest Rates
The Federal Trade Commission has reached a settlement with four of the defendants in an allegedly phony debt relief services operation that claimed that, for $995, it would dramatically reduce consumers’ credit card interest rates. Under the settlement, reached as part of the FTC’s continuing efforts against frauds that target financially strapped consumers, the defendants […]
FTC Warns Marketers That Mobile Apps May Violate Fair Credit Reporting Act
The Federal Trade Commission warned marketers of six mobile applications that provide background screening apps that they may be violating the Fair Credit Reporting Act. The FTC warned the apps marketers that, if they have reason to believe the background reports they provide are being used for employment screening, housing, credit, or other similar purposes, […]
FTC Action Halts Telemarketers Who Sold Bogus Credit Cards
At the request of the Federal Trade Commission, a federal judge has temporarily halted a telemarketing operation that allegedly sold bogus credit cards and took money from consumers’ bank accounts without their consent. The court ordered the defendants’ assets frozen and appointed a receiver to control the business, pending resolution of the case. As part […]
FTC Settlement Bans Billing Scheme Operators from Negative-Option Sales
The Federal Trade Commission has stopped an operation that targeted payday loan seekers and charged them for worthless programs without their consent. A settlement order, reached as part of the FTC’s ongoing efforts to stamp out online fraud, requires the defendants to pay more than $9.9 million and bans them from marketing negative-option programs, which […]
FTC Approves Final Order Settling Charges that LabCorp’s Proposed Acquisition of Orchid Cellmark Inc. was Anticompetitive in Market for Paternity Testing Services
Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Laboratory Corporation of America Holdings’ (LabCorp) proposed acquisition of rival firm Orchid Cellmark Inc. (Orchid) would have illegally reduced competition in the U.S. market for paternity testing services provided to government agencies. The final order settling the FTC’s […]