WASHINGTON—The U.S. Department of the Treasury and IRS today announced that nearly 130 million Americans have received Economic Impact Payments, worth more than $218 billion, in less than five weeks. These totals do not include the more than $2.5 billion delivered to U.S. territories for payment to territory residents. “This Administration has delivered Economic Impact […]
Monthly Archives: May 2020
FTC Halts Online Subscription Scheme that Deceived People with “Free Trial” Offers
The operators of an online subscription scheme agreed to settle a Federal Trade Commission complaint alleging that the defendants duped consumers out of more than $74.5 million by luring them with supposedly “free trial” offers for cosmetics and dietary supplements, then enrolling them in subscriptions and billing them without their consent. The court orders settling […]
FTC Seeks Comment as Part of Review of Health Breach Notification Rule
The Federal Trade Commission is seeking comment on whether proposed changes should be made to a decade-old rule that requires certain companies that provide or service personal health records to notify consumers and the Commission of a data breach. The Health Breach Notification Rule, which went into effective in 2009, requires vendors of personal health […]
Statement by Treasury Secretary Steven T. Mnuchin on the Selection of Louis DeJoy to Serve as Postmaster General
WASHINGTON — U.S. Treasury Secretary Steven T. Mnuchin issued the following statement today on the selection of Louis DeJoy to serve as U.S. Postmaster General: “Louis DeJoy’s knowledge of supply chains, logistics, and management make him an outstanding choice to serve as the 75th Postmaster General of the United States. As the CEO of a […]
FTC Staff Perspective Recaps Online Event Tickets Workshop
A new paper from the Federal Trade Commission’s Bureau of Consumer Protection provides a look at the information covered in the FTC’s “That’s the Ticket” workshop held in June 2019 on online event ticketing. While this is a challenging time for the live event industry and the online ticket marketplace, FTC staff believes that its […]
FTC Sends 45 More Letters Warning Marketers to Stop Making Unsupported Claims That Their Products and Therapies Can Effectively Prevent or Treat COVID-19
The Federal Trade Commission announced it has sent 45 more letters warning marketers nationwide to stop making unsubstantiated claims that their products and therapies can treat or prevent COVID-19, the disease caused by coronavirus. This is the fourth set of warning letters the FTC has announced to sellers of such products as part of its […]
Peloton Interactive, Inc. Reports Third Quarter Fiscal 2020 Financial Results
NEW YORK, May 06, 2020 (GLOBE NEWSWIRE) — Peloton Interactive, Inc. (Nasdaq: PTON) has announced its financial results for third quarter 2020. Please visit the Peloton investor relations website https://investor.onepeloton.com/financial-information/quarterly-results to view the third quarter 2020 shareholder letter. Today the company will host a live audio webcast of its conference call to discuss the results […]
Statement by Treasury Secretary Steven T. Mnuchin on the Introduction of Legislation to Transfer the Secret Service Back to Its Original Home at the Treasury Department
WASHINGTON — U.S. Treasury Secretary Steven T. Mnuchin issued the following statement today following the introduction of legislation by U.S. Senators Lindsey Graham and Dianne Feinstein to transfer the U.S. Secret Service back to the Treasury Department: “I want to thank Senators Graham and Feinstein for introducing this critical legislation to bring the Secret Service […]
Minutes of the Meeting of the Treasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association May 5, 2020
The Committee convened in a closed session via teleconference at 10:00 a.m. All members were present. Principal Deputy Assistant Secretary for Financial Markets Kipp Kranbuhl, Deputy Assistant Secretary for Federal Finance Brian Smith, Director of the Office of Debt Management Fred Pietrangeli, and Deputy Director of the Office of Debt Management Nick Steele welcomed the […]
Federal Bank Regulatory Agencies Modify Liquidity Coverage Ratio For Banks Participating in Money Market Mutual Fund Liquidity Facility and Paycheck Protection Program Liquidity Facility
News Release 2020-59 | May 5, 2020 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationOffice of the Comptroller of the Currency To support the flow of credit to households and businesses, the federal bank regulatory agencies today announced an interim final rule that modifies the agencies’ Liquidity Coverage […]