The Federal Trade Commission has authorized legal action to block the merger of the two largest daily fantasy sports sites, DraftKings and FanDuel, alleging that the combined firm would control more than 90 percent of the U.S. market for paid daily fantasy sports contests. The FTC, jointly with the Offices of the Attorneys General in […]
Monthly Archives: June 2017
FTC Announces Final Agenda for Connected Cars Workshop
The Federal Trade Commission has announced the final agenda for its June 28, 2017, workshop to examine the consumer privacy and security issues posed by automated and connected cars. FTC Acting Chairman Maureen K. Ohlhausen will deliver opening remarks at the daylong workshop. The event will bring together a variety of stakeholders, including industry representatives, consumer […]
FTC Approves Final Order with China National Chemical Corporation and Syngenta AG, Preserving Competition in U.S. Markets for Three Pesticides
Following a public comment period, the Federal Trade Commission has approved a final order settling charges that the proposed merger of China National Chemical Corporation (ChemChina) and Swiss global agricultural company Syngenta AG would harm competition in the U.S. markets for the herbicide paraquat, the insecticide abamectin, and the fungicide chlorothalonil. First announced in […]
FTC Returns Money to Victims of Auto Loan Modification Scheme
The Federal Trade Commission is mailing 288 checks totaling more than $109,000 to people who paid an up-front fee to Regency Financial Services, which promised to get them better terms for their auto loans. According to the FTC, the company and its CEO, Ivan Levy, did not provide the promised services and failed to honor […]
FTC Approves Final Order with Kidney Dialysis Chain DaVita, Inc. that Preserves Competition to Provide Outpatient Dialysis Services in New Jersey and greater Dallas area
Following a public comment period, the Federal Trade Commission has approved a final order settling charges that outpatient kidney dialysis chain DaVita, Inc.’s $358 million acquisition of competitor Renal Ventures Management LLC would have been anticompetitive. First announced in March 2017, the complaint alleged that the acquisition would lead to significant anticompetitive effects in five […]
FTC Amends Complaint Against Invention Promotion Scheme Defendants
The Federal Trade Commission has amended its complaint against the operators of an invention-promotion scheme, World Patent Marketing (WPM), that allegedly deceived consumers and suppressed complaints about the company, including by threatening dissatisfied customers with criminal prosecution. According to the FTC’s original complaint, filed in March 2017, consumers paid the defendants thousands of dollars to […]
Operators of Tech Support Scam Settle FTC Charges
As part of its ongoing crackdown against tech support scams, the Federal Trade Commission has obtained settlements with a group of St. Louis-based defendants who used deceptive Internet pop-up ads to trick consumers into buying unnecessary technical support services. In a complaint filed in October 2016, the FTC alleged that the defendants worked with affiliate […]
FTC Announces Third PrivacyCon, Calls for Presentations
Building on the success of its two previous PrivacyCon events, the Federal Trade Commission is announcing a call for presentations for its third PrivacyCon, which will take place on February 28, 2018. The 2018 PrivacyCon will expand collaboration among leading privacy and security researchers, academics, industry representatives, consumer advocates, and the government. As part of […]
Adoption of Supervisory Guidance on Model Risk Management
FIL-22-2017 June 7, 2017 Adoption of Supervisory Guidance on Model Risk Management Printable Format: FIL-22-2017 – PDF (PDF Help) Summary: The FDIC is adopting the Supervisory Guidance on Model Risk Management previously issued by the Board of Governors of the Federal Reserve System (“FRB”) (SR 11-7) and the Office of the Comptroller of the Currency […]
FTC and DOJ Case Results in Historic Decision Awarding $280 Million in Civil Penalties against Dish Network and Strong Injunctive Relief for Do Not Call Violations
As the result of Do Not Call (DNC) litigation brought by the U.S. Department of Justice on behalf of the Federal Trade Commission, as well as the states of California, Illinois, North Carolina, and Ohio, a federal court in Illinois has ordered penalties totaling $280 million and strong injunctive relief against Englewood, Colorado-based satellite television […]