The Federal Trade Commission is mailing checks totaling more than $1 million to individuals targeted by a business opportunity scheme that promised consumers big profits from selling on Amazon. The FTC and the Minnesota Attorney General’s Office alleged that Sellers Playbook, Inc. lured consumers into believing that they were likely to earn thousands of dollars […]
Monthly Archives: April 2020
Agencies Issue Revised Interagency Statement on Loan Modifications by Financial Institutions Working with Customers Affected by the Coronavirus
News Release 2020-50 | April 7, 2020 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemConsumer Financial Protection BureauFederal Deposit Insurance CorporationNational Credit Union AdministrationOffice of the Comptroller of the Currency The federal financial institution regulatory agencies (the agencies), in consultation with state financial regulators, issued a revised interagency statement encouraging financial […]
Revised Interagency Statement on Loan Modifications by Financial Institutions Working with Customers Affected by the Coronavirus
FIL-36-2020 April 7, 2020 Revised Interagency Statement on Loan Modifications by Financial Institutions Working with Customers Affected by the Coronavirus Printable Format: FIL-36-2020 – PDF (PDF Help) Summary: The FDIC, the Board of Governors of the Federal Reserve, the Office of the Comptroller of the Currency, the National Credit Union Administration, the Consumer Financial Protection […]
FTC Obtains Preliminary Injunction Against Investor Training Scheme Online Trading Academy
A federal court has granted the Federal Trade Commission’s request for a preliminary injunction to halt the alleged illegal practices of Online Trading Academy (OTA). The court had previously entered a temporary restraining order in the case. The FTC’s complaint against OTA, Eyal Shachar (also known as Eyal Shahar), Samuel Seiden, and Darren Kimoto, filed […]
FTC Imposes Conditions on Össur Hf’s Acquisition of College Park Industries, Inc.
Össur Hf and College Park Industries, Inc., both makers of prosthetic limbs, have agreed to divest College Park’s myoelectric elbow business to settle Federal Trade Commission charges that Össur’s proposed acquisition of College Park would violate federal antitrust law. The FTC alleges that the transaction, which was not reportable under the Hart-Scott-Rodino Act, is likely to […]
Agencies Announce Changes to the Community Bank Leverage Ratio
News Release 2020-49 | April 6, 2020 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationOffice of the Comptroller of the Currency The federal bank regulatory agencies today announced the issuance of two interim final rules to provide temporary relief to community banking organizations. The agencies are acting to […]
Slack Technologies, Inc. Prices Upsized Offering of $750 Million 0.50% Convertible Senior Notes due 2025
SAN FRANCISCO–(BUSINESS WIRE)– Slack Technologies, Inc. (NYSE: WORK) announced today the pricing of $750.0 million aggregate principal amount of 0.50% convertible senior notes due 2025 (the “notes”) in a private offering (the “offering”) only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended […]
Modifications to the Community Bank Leverage Ratio Framework
FIL-35-2020 April 6, 2020 Modifications to the Community Bank Leverage Ratio Framework Printable Format: FIL-35-2020 – PDF (PDF Help) Summary: The Federal Deposit Insurance Corporation, Board of Governors of the Federal Reserve System, and Office of the Comptroller of the Currency issued two interim final rules that make changes to the community bank leverage ratio […]
Canadian Maker of Smart Locks Settles FTC Allegations That it Deceived Consumers about its Security Practices
A Canadian company has settled Federal Trade Commission allegations that it deceived consumers by falsely claiming that its Internet-connected smart locks were designed to be “unbreakable” and that it took reasonable steps to secure the data it collected from users. The settlement requires Tapplock, Inc. to, among other things, implement a comprehensive security program and […]
Slack Technologies, Inc. Announces Proposed Offering of $600 Million Convertible Senior Notes
SAN FRANCISCO–(BUSINESS WIRE)– Slack Technologies, Inc. (NYSE: WORK) announced today that it intends to offer, subject to market conditions and other factors, $600.0 million aggregate principal amount of convertible senior notes due 2025 (the “notes”) in a private offering (the “offering”) only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A […]