FIL-53-2015 November 17, 2015 Minimum DIF Reserve Ratio Requirement Notice of Proposed Rulemaking Printable Format: FIL-53-2015 – PDF (PDF Help) Summary: On October 22, 2015, the FDIC Board of Directors approved the attached Notice of Proposed Rulemaking (NPR) to implement the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act: (1) raising the […]
Monthly Archives: November 2015
FTC Issues Agency Financial Report for Fiscal Year 2015
The Federal Trade Commission’s Fiscal Year 2015 Agency Financial Report provides an overview of fiscal and key performance results that show how the agency has managed its resources. The report includes highlights from FTC programs, accomplishments in its missions of protecting consumers and promoting competition, and plans for addressing future challenges. The report also demonstrates […]
FTC and FCC Sign Memorandum of Understanding For Continued Cooperation on Consumer Protection Issues
The Federal Trade Commission and the Federal Communications Commission have signed a Memorandum of Understanding to further the agencies’ ongoing cooperation on consumer protection matters. The memorandum is designed to formalize the existing cooperation between the agencies, outlining how the FTC and FCC will coordinate consumer protection efforts. The memorandum outlines methods by which the […]
FDIC Clarifying its Approach to Banks Offering Products and Services, such as Deposit Accounts and Extensions of Credit, to Non-Bank Payday Lenders
FIL-52-2015 November 16, 2015 FDIC Clarifying its Approach to Banks Offering Products and Services, such as Deposit Accounts and Extensions of Credit, to Non-Bank Payday Lenders Printable Format: FIL-52-2015 – PDF (PDF Help) Summary: The FDIC is reissuing FIL-14-2005, “Payday Lending Programs: Revised Examination Guidance,” and its attachment, “Revised Guidelines for Payday Lending,” (collectively, the […]
FTC, Pennsylvania and Connecticut Sue Tech Support Scammers That Took More Than $17 Million From Consumers
A federal court has granted a request by the Federal Trade Commission to shut down a tech support scam that allegedly bilked consumers out of more than $17 million by pretending to represent Microsoft, Apple and other major tech companies. “We’re pleased the court shut down these scammers, who defrauded consumers out of millions of […]
FTC Action: Medical ‘Discount’ Card Scammers Banned from Selling Healthcare-Related Products
A mother-son marketing team who allegedly tricked Spanish-speaking and other consumers into buying phony medical discount cards will be banned from selling any healthcare-related products under a settlement with the Federal Trade Commission. In August 2014, the FTC charged Constanza Gomez Vargas, Walter S. Vargas, and United Solutions Group Inc. with falsely telling consumers they […]
FDIC Seeking Comment on Frequently Asked Questions Regarding Identifying, Accepting, and Reporting Brokered Deposits
The FDIC is seeking comment for 45 days (closing 12-28-2015) on a proposed update to a series of frequently asked questions (FAQs) and an accompanying introductory letter regarding identifying, accepting and reporting brokered deposits that were issued in January 2015 through FIL-2-2015. Statement of Applicability to Institutions with Total Assets Under $1 Billion: This Financial […]
FTC Announces Panel Topics for November 18 Debt Collection Dialogue in Atlanta
1:30 – 3:00 p.m. Panel 1: State Regulation and Enforcement of Debt Collection Moderator: Cindy Liebes, Director, FTC Southeast Region Panelists:Nick Jarman, President and COO, Delta Outsource Group, Inc., and member of the ACA International Board of Directors Carri Grube Lybarker, Administrator, South Carolina Department of Consumer Affairs Olha N.M. Rybakoff, Senior Counsel, Tennessee Attorney […]
FTC and Veterans Administration Sign Agreement Furthering Efforts To Protect Service Members Who Use Military Education Benefits
The Federal Trade Commission and the Veterans Administration signed a Memorandum of Agreement to further their ongoing efforts to stop fraudulent and deceptive practices targeted at U.S. service members, veterans and dependents who use military education benefits. The agreement is designed to enhance cooperation between the FTC and the VA in investigating and taking action […]
FTC Challenges Proposed Merger of Two West Virginia Hospitals
The Federal Trade Commission today authorized action to block Cabell Huntington Hospital’s proposed acquisition of St. Mary’s Medical Center – two hospitals located three miles apart in Huntington, West Virginia. The FTC issued an administrative complaint alleging that the combination would create a dominant firm with a near monopoly over general acute care inpatient hospital […]