MoneyGram International, Inc. has agreed to pay $125 million to settle allegations that the company failed to take steps required under a 2009 Federal Trade Commission order to crack down on fraudulent money transfers that cost U.S. consumers millions of dollars. The $125 million payment is part of a global settlement that resolves allegations that […]
Monthly Archives: November 2018
FTC to Announce Enforcement Action against Largest International Real Estate Investment Scheme the Agency Has Ever Encountered
The Federal Trade Commission will hold a press conference on Thursday, November 8 at 11 am in Washington, DC, to announce a law enforcement action against the largest-ever international real estate investment scheme the agency has encountered. The Commission estimates that to date hundreds of consumers have lost more than $100 million to the illegal […]
FTC’s James A. Kohm and Markus H. Meier Earn Presidential Rank Awards
The Federal Trade Commission announced today that James A. Kohm, Director of the Enforcement Division in the Bureau of Consumer Protection, and Markus H. Meier, Director of the Health Care Division in the Bureau of Competition, have received Fiscal Year 2018 Presidential Rank Awards. “The FTC, and American consumers, benefit immeasurably from talented leaders like […]
FTC Hearings on Competition and Consumer Protection in the 21st Century Continue with Discussion on the Intersection of Big Data, Privacy, and Competition
WHAT: The Federal Trade Commission will host the sixth session of its Hearings on Competition and Consumer Protection in the 21st Century. WHEN: Tuesday, November 6–Thursday, November 8, 2018, beginning at 9 a.m. WHERE: American University Washington College of Law4300 Nebraska Avenue, NW, Washington, DC 20016(Note: This venue is in walking distance from the Tenleytown/AU […]
FTC Halts Purveyors of Sham Health Insurance Plans
At the request of the Federal Trade Commission, a federal judge temporarily shut down a Florida-based operation that allegedly collected more than $100 million by preying on Americans in search of health insurance, selling these consumers worthless plans that left tens of thousands of people uninsured. Many of these consumers have incurred substantial medical expenses […]
Modifications to the Statement of Policy for Section 19 of the Federal Deposit Insurance Act
FIL-68-2018 November 1, 2018 Modifications to the Statement of Policy for Section 19 of the Federal Deposit Insurance Act Printable Format: FIL-68-2018 – PDF (PDF Help) Summary: The FDIC issued modifications to its Statement of Policy (SOP) for Section 19 of the Federal Deposit Insurance (FDI) Act. Section 19 prohibits, without the prior written consent […]
FTC and New York Attorney General Sue Operators of Debt Collection Scheme
The Federal Trade Commission and the New York Attorney General’s Office have sued a New York-based debt collection operation for tricking people into agreeing to pay more money than what they allegedly owed, according to defendants’ own business records. A federal court temporarily halted the operation’s illegal activity and froze its assets at the request […]
FTC Seeks Comment on Proposed Rule Implementing Law Providing Free Credit Monitoring for Active Duty Military Consumers
The Federal Trade Commission is seeking comment on a proposed rule to implement a 2018 law requiring the nationwide consumer reporting agencies to provide free electronic credit monitoring services for active duty military consumers. The Economic Growth, Regulatory Relief, and Consumer Protection Act, passed earlier this year, mandated that the FTC issue a rule regarding […]