Consumers have reported receiving fictitious email messages, allegedly initiated by the Office of the Comptroller of the Currency (OCC) or senior officials of the agency, regarding funds purportedly under the control of the OCC. Any communication claiming that the OCC is involved in holding any funds for the benefit of any individual or entity is […]
Monthly Archives: May 2019
Morgan
Litigation Release No. 24477 / May 23, 2019 SEC v. Robert C. Morgan, Case No. 1:19-cv-00661, (WDNY, Filed May 22, 2019) The Securities and Exchange Commission filed an emergency action charging Robert C. Morgan, a New York residential and commercial real estate developer, and two of his entities, Morgan Mezzanine Fund Manager LLC and Morgan […]
FTC Staff Issues FY 2016 Report on Branded Drug Firms’ Patent Settlements with Generic Competitors
A new Federal Trade Commission staff report found that, despite a considerable increase in the total number of final Hatch-Waxman patent settlements in FY 2016, significantly fewer settlements included the types of reverse payments that are likely to be anticompetitive. This report is the Bureau of Competition’s third snapshot of such agreements since the Supreme […]
FTC Announces Amendments to Rule Providing Model Forms and Disclosures To Facilitate Compliance with the Fair Credit Reporting Act
The Federal Trade Commission has approved publication of a Federal Register notice announcing the rescission of several model forms and disclosures under the Fair Credit Reporting Act (FCRA). The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) transferred rulemaking authority under several portions of the FCRA to the Consumer Financial Protection Bureau (CFPB). The Commission […]
FTC Returns Nearly $315,000 to Consumers Who Bought Worthless Credit Card Interest Rate Reduction Programs
The Federal Trade Commission is mailing 305 checks totaling $314,945 to consumers who paid up-front for worthless credit card interest rate reduction programs pitched by Payless Solutions using illegal robocalls. According to the FTC’s complaint, filed jointly with Florida’s Office of the Attorney General, the Orlando-based defendants illegally called thousands of consumers nationwide—including many seniors—and […]
Davis, Jr., et al.
On May 22, 2019, the Securities and Exchange Commission charged Charles Nilosek, a Massachusetts-based external sales agent for Woodbridge Group of Companies LLC, with illegally selling Woodbridge securities to retail investors while acting as an unregistered broker. According to the complaint, Nilosek was among Woodbridge’s top revenue producers. The SEC previously charged Woodbridge and its […]
Davis, Jr., et al.
On May 22, 2019, the Securities and Exchange Commission charged Charles Nilosek, a Massachusetts-based external sales agent for Woodbridge Group of Companies LLC, with illegally selling Woodbridge securities to retail investors while acting as an unregistered broker. According to the complaint, Nilosek was among Woodbridge’s top revenue producers. The SEC previously charged Woodbridge and its […]
Howard M. Appel
Litigation Release No. 24475 / May 22, 2019 Securities and Exchange Commission v. Howard M. Appel, Civil Action No. 18-cv-3200 (E.D.Pa., Filed May 10, 2019) On May 10, 2019, the Honorable Paul S. Diamond of the District Court for the Eastern District of Pennsylvania, entered a final judgment on consent against Howard M. Appel for […]
Counterfeit Cashier’s Checks of Farmers & Merchants National Bank, Nashville, Ill.
Alert 2019-5| May 22, 2019 Share This Page: To Chief Executive Officers of All National Banks and Federal Savings Associations; All State Banking Authorities; Chair, Board of Governors of the Federal Reserve System; Chair, Federal Deposit Insurance Corporation; Conference of State Bank Supervisors; Deputy Comptrollers (Districts); Assistant Deputy Comptrollers; District Counsels; and All Examining Personnel The […]
Statement by Federal Trade Commission Bureau of Competition Director Bruce Hoffman on District Court Ruling in Agency’s Monopolization Case against Qualcomm
Federal Trade Commission Bureau of Competition Director Bruce Hoffman issued this statement regarding the U.S. District Court for the Northern District of California’s ruling yesterday that Qualcomm Inc.’s licensing practices relating to its modem chips violate Sections 1 and 2 of the Sherman Act and constitute an unfair method of competition under the FTC Act: […]