The SEC’s Office of Investor Education and Advocacy is issuing this Investor Alert to warn investors, including individuals who may receive lump sum payouts from insurance companies and others as a result of damage from the California wildfires, about fraudulent investment scams. Fraudsters often try to use natural disasters, like the recent California wildfires, as […]
Monthly Archives: November 2018
FTC Returns more than $750,000 to Consumers Who Bought Two Deceptively Marketed Supplements from Health Research Laboratories, LLC
The Federal Trade Commission is mailing 16,596 checks totaling more than $750,000 to consumers who bought two deceptively marketed dietary supplements, NeuroPlus and BioTherapex, from Health Research Laboratories, LLC. Affected consumers will receive their checks by the end of December, with the average refund amount totaling $44.34. The FTC and the State of Maine’s complaint […]
Statement of Federal Trade Commission Concerning Its Vote to Close the Investigation of a Proposed Transaction Combining Massachusetts Healthcare Providers
The Federal Trade Commission has issued a statement on its vote to close the investigation of a proposed transaction that would combine general acute care hospitals, a psychiatric hospital, and physician practices in eastern Massachusetts. CareGroup, Inc. (the parent company of Beth Israel Deaconess Medical Center, Inc., Mount Auburn Hospital, and New England Baptist Hospital) proposes […]
FTC Announces Final Agenda for Ninth Session of its Hearings on Competition and Consumer Protection in the 21st Century
The Federal Trade Commission announced the agenda for the ninth session of its Hearings Initiative, which will focus on data security and take place on December 11-12, 2018. Andrew Smith, Director of the FTC’s Bureau of Consumer Protection, will deliver opening remarks to kick off the two-day session. The first day also will feature presentations […]
FTC Amends Complaint against Lending Club
The Federal Trade Commission has amended its complaint against LendingClub Corporation, an online lending company that the Commission alleges deceived consumers by falsely promising them loans with no hidden fees. According to the FTC’s original complaint, filed in April 2018, Lending Club falsely promises consumers that they will receive a specific loan amount with “no hidden […]
Deposit Insurance Fund Reserve Ratio Exceeds Minimum 1.35 Percent
FIL-78-2018 November 28, 2018 Deposit Insurance Fund Reserve Ratio Exceeds Minimum 1.35 Percent Printable Format: FIL-78-2018 – PDF (PDF Help) Summary: On September 30, 2018, the Deposit Insurance Fund Reserve Ratio reached 1.36 percent, exceeding the statutorily required minimum reserve ratio of 1.35 percent ahead of the September 30, 2020, deadline required under the Dodd-Frank […]
Court Temporarily Halts International Operation that Allegedly Deceived Consumers through False Claims of “Free Trial” Offers and Imposed Unauthorized Continuity Plans
In response to the Federal Trade Commission’s motion, a U.S. district court in California issued an order temporarily halting an alleged Internet marketing scam. The Commission alleges the defendants marketed supposedly “free trial” offers for personal care products and dietary supplements online, but then charged consumers the full price of the products and enrolled them […]
FTC Returns Money to Consumers Affected by Office Supply Scam
The Federal Trade Commission is mailing 1,251 checks totaling more than $647,000 to non-profit organizations, churches, schools, small businesses, and volunteers that were tricked into buying office supply products at higher prices or in larger quantities than they had agreed upon. In December 2015, the FTC charged the operators of Liberty Supply Company, an office […]
FTC Requests Public Comment on Supervalu Inc.’s Application to Approve Sale of 2 Supermarkets Operating under the Shop ’n Save Banner in Va. and W. Va.
The Federal Trade Commission is accepting public comments on an application by Supervalu Inc. to divest a Shop ’n Save supermarket in Berryville, Va., and another in Martinsburg, WV. The FTC’s Oct. 31, 2016 modified final order with grocery chain operators Koninklijke Ahold and Delhaize Group required them to divest 18 of their stores in Maryland, […]
FTC Testifies before Senate Commerce Subcommittee about the Agency’s Work to Protect Consumers, Promote Competition, and Maximize Resources
The Federal Trade Commission today testified before the Senate Commerce Subcommittee on Consumer Protection, Product Safety, Insurance, and Data Security regarding the agency’s work to protect U.S. consumers and promote competition, while maximizing the agency’s resources and anticipating and responding to changes in the marketplace. Testifying on behalf of the Commission, FTC Chairman Joseph J. […]