FIL-9-2015 February 23, 2015 Business Continuity Planning Booklet Appendix J Update to FFIEC IT Examination Handbook Series Summary: The Federal Financial Institutions Examination Council (FFIEC) has issued an appendix to the Business Continuity Planning (BCP) booklet of the FFIEC Information Technology Examination Handbook entitled “Strengthening the Resilience of Outsourced Technology Services.” The booklet is […]
Monthly Archives: February 2015
Regulatory Capital Reporting Changes
FIL-10-2015 February 23, 2015 Regulatory Capital Reporting Changes Summary: The Federal Financial Institutions Examination Council (FFIEC) has approved revisions to the reporting of risk-weighted assets in Part II of Schedule RC-R, Regulatory Capital, of the Consolidated Reports of Condition and Income (Call Report). These changes to Schedule RC-R, Part II, incorporate the standardized approach […]
FTC Sends Refund Checks Totaling More Than $464,000 to Consumers Who Lost Money Buying Deceptively Marketed ‘Fat Burning’, ‘Calorie Blocking’ Diet Pills
The Federal Trade Commission is mailing 11,585 refund checks totaling more than $464,000 starting today to consumers who lost money buying dietary supplements deceptively marketed as “fat burning” and “calorie blocking.” These are legitimate checks, and the FTC encourages consumers who receive them to cash them before they expire on April 21. The refunds are […]
FTC Charges Company, Owner with Deceptively Marketing Mosquito Repellent Wristbands
The Federal Trade Commission has charged Lou Lentine and Viatek Consumer Products Group, Inc. (Viatek) with making deceptive, unsubstantiated claims for Mosquito Shield Bands. The complaint also alleges that the defendant and his company violated the provisions of a 2003 administrative order barring him from making deceptive claims about any product he markets. “The defendants […]
FTC Challenges Proposed Merger of Sysco and US Foods
The Federal Trade Commission today filed an administrative complaint charging that the proposed merger of Sysco and US Foods would violate the antitrust laws by significantly reducing competition nationwide and in 32 local markets for broadline foodservice distribution services. The FTC alleges that if the merger goes forward as proposed, foodservice customers, including restaurants, hospitals, […]
FTC, DOJ Announce Agenda for Joint Public Workshop on Examining U.S. Health Care Competition
The Federal Trade Commission and the U.S. Department of Justice’s Antitrust Division have issued an agenda and posted speaker bios for their joint workshop in the series Examining Health Care Competition. The workshop will take place on February 24-25, 2015, in the Constitution Center Auditorium located at 400 7th Street, SW, Washington, DC, 20024. With […]
FTC Staff Provides Annual Report to CFPB on Equal Credit Opportunity Act Activities
The staff of the Federal Trade Commission have provided an annual report to the Consumer Financial Protection Bureau on the FTC’s activities related to the enforcement of the Equal Credit Opportunity Act, or ECOA. The FTC is responsible for ECOA enforcement and education related to most non-bank financial service providers. In the letter to the […]
FTC Approves Final Order in Texas Auto Dealer Deceptive Ad Case
Following a public comment period, the Federal Trade Commission has approved a final order involving deceptive advertising charges against a Dallas auto dealer, TXVT Limited Partnership (doing business as Trophy Nissan). Under the settlement, Trophy is prohibited from misrepresenting in any advertisement the material terms of any promotion or other incentive, including that it […]
FTC Approves Merck & Co., Inc.’s Application to Sell Facilities for Manufacturing Heartgard and Heartgard Plus Heartworm Treatments for Dogs to Merial
Following a public comment period, the Federal Trade Commission has approved an application for prior approval from Merck & Co., Inc. to sell its Barcelonata facility to Merial Barceloneta LLC, a subsidiary of Merial Inc. Merck currently contract-manufactures the canine heartworm medications Heartgard and Heartgard Plus at that facility for Merial. No other products are […]
FTC Obtains $9.5 Million Judgment Against Sweepstakes Promoter for Contempt
A sweepstakes operator is permanently banned from direct mail marketing and is liable for a $9.5 million judgment under a settlement with the Federal Trade Commission, which charged her with violating a previous court order by running a sweepstakes scam. “There’s a price to pay to violating a court order in an FTC case,” said […]