Following a public comment period, the Federal Trade Commission has approved an application from Graco Inc. to divest certain liquid finishing businesses and related assets to Carlisle Companies Inc. Under the terms of the Commission’s October 2014 modified final order, Graco is required to divest these assets to settle charges that its acquisition of the […]
Monthly Archives: March 2015
Statement of Chairwoman Edith Ramirez, and Commissioners Julie Brill and Maureen K. Ohlhausen regarding the Google Investigation
The Federal Trade Commission conducted an exhaustive investigation of Google’s internet search practices during 2011 and 2012. Based on a comprehensive review of the voluminous record and extensive internal analysis, of which the inadvertently disclosed memo is only a fraction, all five Commissioners (three Democrats and two Republicans) agreed that there was no legal basis […]
FTC, Law Enforcement Partners to Announce Crackdown on Deception, Fraud in Auto Industry
WHAT: The Federal Trade Commission will hold a media call on Thursday, March 26, 2015 at 11:00 a.m. EDT to announce a nationwide and cross-border crackdown on deceptive auto sales practices with multiple law enforcement partners including the United States Attorney’s Office in the Northern District of Alabama. This crackdown represents the second FTC auto-related […]
Federal Trade Commission Appoints Roslyn A. Mazer as Agency’s Inspector General
Federal Trade Commission Chairwoman Edith Ramirez has appointed Roslyn A. Mazer as the agency’s Inspector General, succeeding Scott Wilson, who retired. “I am pleased to welcome Roslyn to the Federal Trade Commission,” said FTC Chairwoman Edith Ramirez. “Her extensive experience will help to ensure that we continue to operate effectively in our important work on […]
FTC Seeks Technologists for New Research, Investigations Office
Federal Trade Commission Bureau of Consumer Protection Director Jessica Rich announced in a blog post published today the formation of the Office of Technology Research and Investigation (OTRI), a successor to the Bureau’s Mobile Technology Unit (MTU) that will expand the agency’s technology expertise in an age of rapid technological innovation. In his Tech@FTC […]
Regulatory Capital Rules: Accumulated Other Comprehensive Income (AOCI) Opt-Out Election
FIL-12-2015 March 23, 2015 Regulatory Capital Rules: Accumulated Other Comprehensive Income (AOCI) Opt-Out Election Printable Format: FIL-12-2015 – PDF (PDF Help) Summary: The FDIC is issuing this Financial Institution Letter (FIL) as a reminder to FDIC-supervised institutions not subject to the advanced approaches risk-based capital rules that they may elect to calculate regulatory capital using […]
FTC Sends Refund Checks Totaling More Than $416,000 to Consumers Who Lost Money Buying “Body Slimming” Creams that Were Deceptively Marketed
The Federal Trade Commission is mailing 10,620 refund checks totaling more than $416,000 starting today to consumers who lost money buying two skin creams marketed by L’Occitane, Inc., which falsely claimed the creams had “body slimming” capabilities. The amount each consumer receives will vary based on how much of the product they bought. The refunds […]
FTC Approves Final Order Preserving Competition for Generic Antibacterial Drug Minocycline
Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Sun Pharmaceutical Industries Ltd.’s $4 billion acquisition of Ranbaxy Laboratories Ltd. would likely be anticompetitive. Under the order, first announced in January 2015, Sun is required to divest Ranbaxy’s interests in generic minocycline tablets to India-based Torrent Pharmaceuticals […]
BMW Settles FTC Charges that Its MINI Division Illegally Conditioned Warranty Coverage on Use of Its Parts and Service
BMW of North America LLC has agreed to settle Federal Trade Commission charges that its MINI Division violated the Magnuson-Moss Warranty Act by telling consumers that BMW would void their warranty unless they used MINI parts and MINI dealers to perform maintenance and repair work. In an administrative complaint, the FTC alleged that BMW, through […]
FTC Testifies on Proposed Data Security Legislation Before House Energy and Commerce Committee’s Commerce, Manufacturing and Trade Subcommittee
In testimony before Congress today, the Federal Trade Commission provided feedback on proposed data security legislation pending before the Subcommittee on Commerce, Manufacturing and Trade of the House Energy and Commerce Committee. Testifying on behalf of the Commission before the Subcommittee, FTC Consumer Protection Director Jessica Rich highlighted the Commission’s support for data security legislation […]