The Federal Trade Commission has issued a follow-up study of credit report accuracy that found most consumers who previously reported an unresolved error on one of their three major credit reports believe that at least one piece of disputed information on their report is still inaccurate. The congressionally mandated study is the sixth and final […]
Monthly Archives: January 2015
Makers of Jungle Rangers Computer Game for Kids Settle FTC Charges that They Deceived Consumers with Baseless “Brain Training” Claims
A Texas company and its officers must stop making unsubstantiated claims that their computer game, Jungle Rangers, permanently improves children’s focus, memory, attention, behavior, and school performance, including for children with attention deficit hyperactivity disorder (ADHD), under a Federal Trade Commission settlement. “This case is the most recent example of the FTC’s efforts to ensure […]
FTC Approves Final Order Preserving Competition in the Market for Nicotine Patches
Following a public comment period, the Federal Trade Commission has approved a final order settling charges that global pharmaceutical company Novartis AG’s consumer health care products joint venture with GlaxoSmithKline would likely be anticompetitive. Under the order, first announced in November 2014, Novartis agreed to divest Habitrol, its branded nicotine replacement therapy patch, as well […]
FTC ‘Fotonovela’ Warns Latino Community About Debt Collection Scams
To help Spanish-speaking consumers know their rights when dealing with debt collectors, the Federal Trade Commission has created a Spanish-language graphic novel, Cobradores de Deuda, which describes the rules debt collectors must follow, and what consumers should do if they don’t. It’s part of the FTC’s fotonovela series, a campaign to promote consumer education and […]
Online Payday Lending Companies to Pay $21 Million to Settle Federal Trade Commission Charges that They Deceived Consumers Nationwide
Two payday lending companies have settled Federal Trade Commission charges that they violated the law by charging consumers undisclosed and inflated fees. Under the proposed settlement, AMG Services, Inc. and MNE Services, Inc. will pay $21 million – the largest FTC recovery in a payday lending case – and will waive another $285 million in […]
FTC Sends Refund Checks Totaling More Than $700,000 to Consumers Who Lost Money in Robocall Scheme
The Federal Trade Commission is mailing 16,590 refund checks totaling more than $700,000 this week to consumers who lost money to a “Rachel from Cardholder Services” scheme that allegedly promised to reduce the interest rate on consumers’ credit cards for an up-front fee. Each check will be for $42.95. The refunds are being made from […]
FTC Approves Modified Final Order for Bi-Lo
The Federal Trade Commission has approved a modified final order settling charges that grocery store operator Bi-Lo Holdings, LLC’s $265 million acquisition of 154 stores from Delhaize America would harm competition in markets in Florida, Georgia, and South Carolina. Bi-Lo Holdings is the parent of the BI-LO, Harvey’s, and Winn Dixie grocery store chains. Under […]
FTC Announces New Thresholds for Clayton Act Antitrust Reviews for 2015
The Federal Trade Commission has revised the thresholds that determine whether companies are required to notify federal antitrust authorities about a transaction under Section 7A of the Clayton Act. The FTC also revised the thresholds that trigger prohibitions on certain interlocking directorates under Section 8 of the Clayton Act. The Hart-Scott-Rodino Antitrust Improvements Act, Section […]
The FDIC Launches Web Page to Support Marketing of Failing Financial Institutions
FIL-4-2015 January 15, 2015 The FDIC Launches Web Page to Support Marketing of Failing Financial Institutions Printable Format: FIL-4-2015 – PDF (PDF Help) Summary: The Federal Deposit Insurance Corporation (FDIC) recently launched a Failing Bank Acquisitions Web page on FDIC.gov. This Web page will allow institutions to better understand how the FDIC markets failing financial […]
FTC To Host Tax Identity Theft Awareness Week Jan. 26-30
The Federal Trade Commission will conduct a week of events Jan. 26-30 to raise consumer awareness about the threat posed by tax identity theft, a scam that puts thousands of consumers at risk every year. Tax identity theft typically happens when a scammer files a fraudulent tax return using another individual’s social security number, receiving […]