Four mortgage modification scammers, Brian Pacios, Chad Caldaronello, Justin Moreira and Derek Nelson will be banned from selling debt relief products and services under settlements resolving Federal Trade Commission charges that they deceived homeowners facing foreclosure. The settlements stem from a complaint the FTC filed against Pacios, Caldaronello, Moreira, Nelson, Denny Lake, and relief defendant […]
Monthly Archives: December 2015
Commercial Trucking Services Company Settles FTC Charges of Invitation to Collude
Drug Testing Compliance Group, LLC, an Idaho-based company that provides drug and alcohol testing and other services to commercial trucking companies and their drivers, has agreed to settle FTC charges that it illegally invited one of its competitors to enter into a customer allocation agreement. In its complaint the FTC alleges that in 2014, DTC […]
FTC to Host Public Workshop Examining the U.S. Auto Distribution System
The Federal Trade Commission will host a one-day workshop on January 19, 2016, to explore competition and related issues in the U.S. auto distribution system, including how consumers and businesses may be affected by state regulations and emerging trends in the industry. The event will take place in Washington, D.C. at the FTC’s Constitution Center […]
Nordstrom, Bed Bath & Beyond, Backcountry.com, and J.C. Penney to Pay Penalties Totaling $1.3 Million for Falsely Labeling Rayon Textiles as Made of “Bamboo”
The Federal Trade Commission announced complaints and proposed court orders barring four national retailers from mislabeling and advertising rayon textiles as made of “bamboo,” and requiring them to pay civil penalties totaling $1.3 million. Under the court orders settling the FTC’s charges, Bed Bath & Beyond Inc. will pay $500,000; Nordstrom, Inc. will pay $360,000; […]
Wyndham Settles FTC Charges It Unfairly Placed Consumers’ Payment Card Information At Risk
Note: A conference call for media with Jessica Rich, Director of the FTC Bureau of Consumer Protection, was held as follows. Date: Dec. 9, 2015Time: 12:00 p.m. ETRich and FTC staff took questions from the media about the case. Wyndham Hotels and Resorts has agreed to settle FTC charges that the company’s security practices unfairly […]
FTC and Pennsylvania Office of Attorney General Challenge Penn State Hershey Medical Center’s Proposed Merger with PinnacleHealth System
The Federal Trade Commission has authorized an action to block Penn State Hershey Medical Center’s (Hershey) proposed merger with PinnacleHealth System, alleging that the combination of the two health care providers would substantially reduce competition in the area surrounding Harrisburg, Pennsylvania, and lead to reduced quality and higher health care costs for the area’s employers […]
FTC Challenges Proposed Merger of Staples, Inc. and Office Depot, Inc.
The Federal Trade Commission today filed an administrative complaint charging that Staples, Inc.’s proposed $6.3 billion acquisition of Office Depot, Inc. would violate the antitrust laws by significantly reducing competition nationwide in the market for “consumable” office supplies sold to large business customers for their own use. Framingham, Mass.-based Staples – the world’s largest seller […]
FTC Returns Money to Consumers Conned into Paying for Business Directory Listings
The Federal Trade Commission is mailing 774 checks totaling more than $444,000 to consumers who lost money to a business directory scam. In 2013, the FTC charged the Online Public Yellow Pages defendants, based in Montreal, with billing small businesses and churches in the United States for unwanted directory listings. The court temporarily halted the […]
Revised Compliance Examination Manual
FIL-59-2015 December 4, 2015 Revised Compliance Examination Manual Summary: The FDIC has revised the Compliance Examination Manual (manual) to reflect recent supervisory guidance. The manual provides guidance to FDIC examination staff for evaluating financial institutions for compliance with the federal consumer protection laws and regulations. The manual, which is available on the FDIC’s website, may […]
Proposed Revisions to the Consolidated Reports of Condition and Income and Banker Teleconference Scheduled for December 8
FIL-58-2015 December 4, 2015 Proposed Revisions to the Consolidated Reports of Condition and Income and Banker Teleconference Scheduled for December 8 Summary: Revisions to the Consolidated Reports of Condition and Income (Call Report) that had been proposed to take effect December 31, 2015, have been deferred until no earlier than March 31, 2016. In […]