FIL-19-2016 March 14, 2016 Technical Assistance Video on Outsourcing Technology Services Summary: As part of the FDIC’s Community Banking Initiative and Technical Assistance Video Program, the FDIC is announcing the release of a new video on outsourcing technology services. The video is designed to assist community bank directors and senior management in developing a […]
Monthly Archives: March 2016
FTC Staff: Proposed Health Care Legislation in West Virginia Would Likely Be Anticompetitive and Harm Consumers
Federal Trade Commission staff submitted written comments on the competitive impact of provisions in proposed legislation in West Virginia that would provide for “cooperative agreements” between health care providers, and provisions purporting to confer “exemptions” from federal antitrust laws on certain health care providers. The comments are in response to a request from West Virginia […]
New FTC Spanish-Language Video Tells How to Spot and Report Imposter Scams
Jessica Rich, Director of the FTC’s Bureau of Consumer Protection, today introduced a new Spanish-language video about imposter scams at the Legislative Summit hosted by the National Association of Hispanic Publishers and the National Newspaper Publications Association. The video is a first-person account from a Latina who was harassed by scammers impersonating court officials and […]
FTC and Department of Justice Bring Action against Lead-Generator Using Robocalls to Pitch Energy Savings
The Federal Trade Commission, in coordination with the Department of Justice (DOJ), has brought a federal court action to stop a telemarketing operation that allegedly made illegal robocalls promising consumers energy savings, in an effort to generate leads to sell to solar panel installation companies. According to the complaint, defendants Francisco Salvat and his companies […]
Flood Insurance Videos Updated
FIL-18-2016 March 10, 2016 Flood Insurance Videos Updated Summary: As part of the FDIC’s Community Banking Initiative, the FDIC is announcing the release of updated technical assistance videos on flood insurance. The new videos provide financial institution management, compliance officers, and staff with resources for better understanding of federal flood insurance laws, regulations, and compliance […]
FTC Action Leads to Court Orders Against Scheme That Charged Millions of Dollars to Consumers’ Bank and Credit Card Accounts Without Their Consent
At the Federal Trade Commission’s request, a federal district court has banned seven individuals, Ideal Financial Solutions Inc., and its subsidiaries from collecting or disclosing consumer information. Until the FTC filed its lawsuit in 2013, the defendants operated a massive scam that took money from consumers’ bank accounts without their authorization. “These defendants bought sensitive […]
FTC Chairwoman Ramirez Testifies Before Senate Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights
Testifying on behalf of the Federal Trade Commission before the U.S. Senate Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights, Chairwoman Edith Ramirez outlined how effective antitrust enforcement benefits both consumers and businesses by preventing mergers and business conduct that could lead to higher prices, lower quality products and services, and less innovation. Citing […]
I Works Billing Scheme Defendant Agrees to Settle FTC Charges
One of the defendants in the IWorks scheme that allegedly took more than $280 million from consumers via deceptive “trial” memberships for bogus government-grant and money-making schemes has agreed to settle Federal Trade Commission charges. Loyd Johnston, along with Jeremy Johnson and nine others, were named in a complaint the FTC filed against the operation […]
FTC To Study Credit Card Industry Data Security Auditing
The Federal Trade Commission has issued orders to nine companies requiring them to provide the agency with information on how they conduct assessments of companies to measure their compliance with the Payment Card Industry Data Security Standards (PCI DSS). PCI DSS audits are required by the major payment card issuing companies of retailers and other […]
FTC, Partners to Promote Education During National Consumer Protection Week, March 6-12
The Federal Trade Commission — working with more than 100 federal, state and local agencies, consumer groups, and national organizations — will spotlight efforts to protect consumers from fraud, identity theft and other consumer issues during National Consumer Protection Week (NCPW), March 6-12, 2016. For 18 years, NCPW has been a time to encourage consumers […]